DETROIT–Credit unions have been enjoying robust auto lending for several years, but what might lie ahead is difficult to determine given two different outlooks by two different manufactures.
Ford Motor Co., the no. 2 U.S. automaker, said during an earnings call with analysts that it believes the record years of auto sales are over.
"We are seeing signs of a maturing U.S. recovery," Ford CEO Mark Fields told analysts during the call.
Fields’ comments helped push down Ford’s stock 8%. It is now down 10% for the year.
Ford also rolled back its earlier projections for 2016 auto sales, saying it expects sales will not reach some earlier forecasts, and that it expects sales will likely soften further in 2017.
"Sales are still at healthy levels overall, but the competitive environment has increased as retail demand has weakened," Fields said.
Ford also suffered losses related to its overseas operations.
But General Motors does not share Ford’s pessimism. It told analysts it expects its sales will remain as strong over the remainder of the year as they have been to date.