2008 Ford Mustang Sales - A Year in Review

A Decline in the Midst of Economic Turmoil

In 2008, automakers around the globe began to feel the impact of rising gas prices, more costly borrowing practices by lenders, and the rising costs associated with producing quality automobiles. Ford Motor Company, the maker of the Ford Mustang, was no exception.

Highlights

• 2008 Ford Mustang Sales: 91,251 units
  
• Best Sales Month: June with 10,893 Mustangs Sold
  
• Worst Sales Month: November with 3,667 Mustangs Sold
  

Hard Economic Times

Hardest hit by the economic downturn were America’s Big Three automakers: Chrysler, Ford, and General Motors. With gas prices at all time highs, consumer loans becoming more difficult to obtain, and layoffs occurring across the country, many dealerships found new car buyers hard to come by. In fact, things became so grim for the Big Three that they went before U.S. Congress (See Ford’s Plan) late in the year asking for economic assistance. The “Automaker Bailout Plan”, as it was coined, asked for a total of $25 billion in relief loans to help the automakers get through 2009 and become competitive. This bailout was the second of the year, with a $700 billion Wall Street bailout still fresh on the minds of most Americans.

As can be expected, the bailout was met with strong opposition from those who said the American automakers had failed at building cars and deserved to ride it out on their own. Supporters of the bailout noted the countless jobs that would be lost if the American automakers shut down, further harming an already weak economy.

In late December a bailout was approved by President Bush in the amount of $17.4 billion in rescue loans. In a surprising move, Ford Motor Co. declined to take advantage of the assistance citing the company was not close enough to bankruptcy to show a need for the funds.

Ford Sales for 2008

In all, Ford Motor Company’s sales were down 20.7 percent for the year. Ford sold a total of 1,988,376 vehicles in 2008. In 2007 the company had sold approximately 2,507,366 vehicles.

Sales of the Ford Mustang didn’t fare much better for the company. Ford sold less than 100,000 Mustangs in 2008, netting out at a total of 91,251 units. The previous year, in 2007, the company had sold 134,626 Mustangs. This resulted in a 32.2% decline in Mustang sales for 2008.

2008 Ford Mustang Sales Month-By-Month

• January:
  6,545 Mustangs Sold
  Down 27.8% From 2007 (9,064 units)
  
• February:
  7,752 Mustangs Sold
  Down 28% From 2007 (10,772 units)
  
• March:
  10,180 Mustangs Sold
  Down 30.9% From 2007 (14,737 units)
  
• April:
  10,050 Mustangs Sold
  Down 19.7% From 2007 (12,509 units)
  
• May:
  9,633 Mustangs Sold
  Down 44.9% From 2007 (17,478 units)
  
• June:
  10,893 Mustangs Sold
  Down 14.8% From 2007 (12,781 units)
  
• July:
  10,711 Mustangs Sold
  Up .3% From 2007 (10,684 units)
  
• August:
  8,197 Mustangs Sold
  Down 28.8% From 2007 (11,512 units)
  
• September:
  4,910 Mustangs Sold
  Down 52.2% From 2007 (10,266 units)
  
• October:
  4,686 Mustangs Sold
  Down 48% From 2007 (9,156 units)
  
• November:
  3,667 Mustangs Sold
  Down 50.1% From 2007 (7,352 units)
  
• December:
  4,027 Mustangs Sold
  Down 51.6% From 2007 (8,315 units)
  

Similar to a wild and rocky roller coaster ride, sales of the Mustang were up and down most of 2008, falling flat as the year came to an end. Ford had its best sales month of the year in June when they sold 10,893 Mustangs. The worst sales month of the year, and the worst ever recorded in the car’s history, was November when Ford sold only 3,667 Mustangs. This was a decline of 50.1 percent from November 2007 when the company sold 7,352 Mustangs.

The Road Ahead

The future of Ford’s Mustang, and American automakers in general, was uncertain as the 2009 year began. With changes in the economy almost daily, and Ford’s stock still below $3.00 a share, many people questioned the company’s ability to weather the storm.

In spite of these conditions, Ford continued to move forward towards new goals. At the 2009 North American International Auto Show in Detroit Ford Motor Co. Executive Chairman Bill Ford told the New York Times Ford plans to launch at least two new electric vehicles within the next three years, in addition to expanding upon its existing hybrid vehicles. The company also debuted its new 2010 Shelby GT500 Mustang at the show, following the launch of the 2010 Mustang in November of 2008.

As for muscle cars, V-8 powered or otherwise, their future may depend on many factors, including President Bush’s Energy Independence and Security Act of 2007 which mandates all automakers have an average fleet MPG of 35 by the year 2020. Although the Bush administration had planned on finalizing all details of this Act before he left office, it was revealed in January 2009 that the incoming President Obama will be tasked with finalizing the details. According to some reports, Obama's administration may work to move towards the 35 MPG goal more aggressively than was originally planned. This, they say, would make it even more difficult for the automakers to successfully launch performance cars with big V-8 engines.

As for the new 2010 Ford Mustang, it's expected to arrive at dealerships in the Spring of 2009. Ford's 2009 Mustang sales figures will rely heavily on how receptive the buying public is to this revised Ford pony car.