[ad_1]
Bronco SUVs in manufacturing at Ford’s Michigan Meeting plant, June 14, 2021.
Michael Wayland | CNBC
DETROIT – Ford Motor is reducing manufacturing subsequent week of a number of key merchandise because of an ongoing world scarcity of semiconductor chips.
The automaker on Friday confirmed manufacturing downtime subsequent week for the Ford Bronco and Explorer SUVs; the Ford F-150 and Ranger pickups; the Ford Mustang Mach-E electrical crossover; and the Lincoln Aviator SUV at crops in Michigan, Illinois, Missouri and Mexico because of the components scarcity.
The automaker is also reducing some productions of the F-150 and Ford Transit cargo vans at crops in Michigan and Missouri.
The cuts sign the chip scarcity that devastated the auto business final 12 months continues to linger. They arrive a day after Ford considerably missed Wall Avenue’s earnings expectations because of lower-than-expected manufacturing attributable to the availability chain points, inflicting shares to tumble 9.7% on Friday.
“The worldwide semiconductor scarcity continues to have an effect on Ford’s North American crops – together with automakers and different industries around the globe,” Ford mentioned in an emailed assertion. “Behind the scenes, we’ve groups engaged on easy methods to maximize manufacturing, with a continued dedication to constructing each high-demand automobile for our clients with the standard they anticipate.”
The truth that Ford is reducing a few of its most worthwhile and in-demand fashions such because the Bronco, Mach-E and F-150 exhibits automakers proceed to battle with the issue regardless of many within the business anticipating a gradual enchancment within the provide of chips in 2022.
Ford bought 1.9 million automobiles within the U.S. in 2021, down by 6.8% because it managed by way of a worldwide scarcity of semiconductor chips. The components downside compelled Ford and different automakers to sporadically shutter crops and depleted automobile inventories.
After rising by roughly 140% in 2021, shares of Ford are down by 13.5% this 12 months.
[ad_2]
Source link