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After the Ford stock tanked 10% on Friday Ford hit the market with more bad news Friday night, after the markets were closed, hoping the the story would get buried over the weekend.
Chip shortage forces Ford to cut production of F-150, Bronco and other important vehicles
Published Fri, Feb 4 2022 7:25 PM EST
Published Sat, Feb 5, 2022 4:00 AM EST
By Dom Calicchio FOXBusiness
Chip shortage forces Ford to cut production of F-150, Bronco and other important vehicles
Published Fri, Feb 4 2022 7:25 PM EST
Ford says chip shortage will force it to halt or cut production at 8 plants: reportsThe automaker on Friday confirmed production downtime next week for the Ford Bronco and Explorer SUVs; the Ford F-150 and Ranger pickups; the Ford Mustang Mach-E electric crossover; and the Lincoln Aviator SUV at plants in Michigan, Illinois, Missouri and Mexico due to the parts shortage. The automaker also is cutting some productions of the F-150 and Ford Transit cargo vans at plants in Michigan and Missouri.
- Ford is cutting vehicle production next week of several key products due to an ongoing global shortage of semiconductor chips.
- Impacted products include the F-150 pickup, Mustang Mach-E electric crossover, Bronco SUV and other vehicles.
- The cuts come a day after Ford significantly missed Wall Street’s earnings expectations due to supply chain issues, sending shares to tumble 9.7% on Friday.
The fact that Ford is cutting some of its most profitable and in-demand models such as the Bronco, Mach-E and F-150 shows automakers continue to battle with the problem despite many in the industry expecting a gradual improvement in the supply of chips in 2022.
Published Sat, Feb 5, 2022 4:00 AM EST
By Dom Calicchio FOXBusiness
Difficulties in obtaining semiconductor chips will prompt Ford Motor to temporarily halt or scale back auto production at eight plants in North America, the company said Friday, according to reports.
Plants expected to see work suspended by Ford’s decision include those in Michigan, Chicago and Cuautitlan, Mexico, according to Reuters.
Also affected will be plants in Kentucky and Oakville, Ontario, Canada, Reuters added.
In Kansas City, production of Ford’s popular F-150 pickup trucks will be scaled back as one shift produces Transit vans, the news outlet reported.
Other models of Ford vehicles affected by the move include Bronco and Explorer SUVs, Ranger pickups, the Ford Mustang Mach-E electric crossover vehicle and the Lincoln Aviator, CNBC reported.
On Thursday, Ford missed Wall Street’s earnings expectations, causing shares to drop nearly 10% on Friday, the CNBC report said.
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