Major US carmaker Ford will suspend or cut production at eight of its factories in the US, Mexico and Canada for at least one week.

Factories in Michigan, Chicago and in Cuautitlan, Mexico will stop work, while the Ford factory in Kansas City will run only one shift for the production of Ford Transit cargo vans.

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The carmaker also plans to reduce the schedule at factories in Dearborn, Kentucky and Louisville, and has slashed overtime at the Oakville factory in Canada.

The changes will lower the output of vehicles such as Ford Bronco and Explorer SUV’s, as well as the Ford F-150 and Ranger pickups, the Ford Mustang Mach-E electric crossover and the Lincoln Aviator SUV.

The company says the semiconductor chip shortage is to blame for the changes, which are planned to be in place for one week, starting on February 7, 2022.

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Also due to the chip shortage, Ford missed Wall Street expectations when it reported fourth-quarter earnings results earlier this week.

The carmakers shares plunged 9.7% on Friday, but started to crawl back up in the after hours trading, regaining 0.67%. Ford warned that the persistent shortages would lead to a further drop in its vehicle production in the current quarter, ending in March.

The company has forecast a slower recovery in car production in the first half of 2022, but was hopeful that output volumes will increase by year’s end.

RT. com / ABC Flash Point News 2022.

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King Dom Enemy # 1
King Dom Enemy # 1
Guest
06-02-22 12:16

Vehicles don’t need chips to operate. I’m sure there will come a day when you have to listen or view an advertisement before you are allowed to start your car.

5th Eye
5th Eye
Guest
06-02-22 12:16

The next thing to bust is the stock market, followed by the housing market. Only a big war can rejuvenate the US economy but where? Thank to Russia and China, US can’t start a big war these days.

HENRY FORD
HENRY FORD
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Reply to  5th Eye
06-02-22 12:19

comment image

Catch 42
Catch 42
Guest
06-02-22 12:18

If you think the virus caused this- then you are clueless. 1. 99% of the manufacturing process for the chips is automated- you need very few people to oversee a plant.

  1. Just shows how beholden the USA has become to foreign suppliers- sending all manufacturing overseas.

  • It is designed to show how vulnerable countries are and to show the control of the global/US economy is in the hands of a few foreign governments.

  • Last edited 3 months ago by Catch 42