Ford Motor -- Time to buy again?DETROIT -- In the midst of a costly program to replace 13 million Firestone tires, Ford Motor Co.'s U.S. auto sales dropped 12 percent in May, with analysts expecting domestic sales of U.S. auto companies to drop for an eighth straight month.
Ford announced the recall last week after concluding Wilderness AT tires installed on several of its sport utility vehicles, including the best-selling Explorer, would fail at a greater rate than competitors' tires.
The automaker estimates the recall will cost $2.1 billion after taxes.
Firestone says its tires are safe and has asked the federal government to investigate the safety of the Explorer.
Last summer the National Highway Safety Administration ordered a recall of 6.5 million Firestone tires that the agency says is linked to at least 174 deaths and more than 700 injuries.
Ford announced Friday it would extend by one week the suspension of production of Ranger pickup trucks at its St. Paul, Minn., and Edison, N.J., plants to make replacement tires available for its tire recall.
The plants were shut down May 28, originally for two weeks.
Ford said previously its Louisville, Ky., plant would be shut down for a week starting Monday.
Ford estimates it will lose production of 31,000 light trucks, which could impact June sales.
Results for Ford sales do not include sales from its foreign brands. Sales of Ford cars declined 12 percent, trucks were off 11 percent.
Squeezing Ford's May performance was weakness in sales of its high-profit SUVs. Sales of the restyled 2002 Explorer dropped 16.5 percent from sales of its predecessor a year ago.
However, May sales of the Explorer were its strongest in calendar year 2001.
General Motors Corp. and DaimlerChrysler AG's Chrysler division also were to report softer May sales later Friday.