During a week in which it acknowledged the importance of F-150, Ford Motor Co. also halted the assembly lines at two critical plants that build pickup trucks due to semiconductor issues, Ford said.
The cuts in truck production are particularly painful for Ford, which relies on the F-150 to bolster its bottom line. The new round of cuts also could pose a threat to the perennial leadership in pickup sales. General Motors and Stellantis also have cut truck production, although GM is still building trucks then holding them in storage as the company waits for semiconductors needed to finish the vehicles.
Ford also said it was closing SUV plants in the face of the continuing shortage of semiconductors. The shortage is expected to cut Ford’s profits by as much as $2.5 billion this year, according to the financial guidance the company presented at the end of the first quarter.
Read the article at The Detroit Bureau.
