Ford U.S. sales plunge 40%

Ford Motor Co. said on Tuesday that its U.S. sales were 40 percent lower in January than a year ago, fleet sales 65 percent lower, and retail sales to individuals 27 percent lower.

Analysts believed that Ford's sales figures may kick off the industry's fourth straight monthly decline of more than 30 percent.

But the second largest auto manufacturer in the U.S. said that the January sales for itself and the overall industry were in line with company expectations, and that retail demand appears to be stabilizing.

Ford struggles to continue operations without federal assistance, which may reduce Ford Family's control. Ford burned 5.5 billion dollars in cash last quarter, and finished the year with cash reserves of 13.4 billion dollars, the company said last week in a statement.