Ford Cuts F-150 Pickup Production Again Due to Chip Shortage


Four chairs on the move today after the automaker announced production cuts due to the ongoing chip shortage crisis. Philip got the details from chicago hotel. Melissa the announced this late in the day and it essentially is gonna hit the big profit maker for four the f. one fifty because of the shortage the company will be idling the plant in kansas city where they build the f. one fifty. It's already been shut down this week and last week. They're also going to shut it down next week. And they're also going to be reducing the number of shifts at the f. One fifty plant in dearborn michigan dropping. That down to one shift next week again because of the shortage of chips that is limiting their ability when it comes to production. We'll get ford august sales numbers tomorrow. In terms of industry sales in august. We knew it would be rough and the numbers are finally in. According to motor intelligent the sales rate for the month of august with thirteen point one million vehicles again. that was basically what people were expecting. And that is well below what we saw. These are the annual numbers back. In april it was eighteen point five million. So we're seeing the fall off here because of the limited supply take a look at toyota hyundai honda. All of them reported lower sales in the month of august due to the restricted supply. And then you've got gm and still lantis and the reason we're showing you. These guys is because they don't report their monthly auto sales but both of them have had to cut their production of pickup trucks again. The profit drivers for those two companies in north america. If there is any group though that is for the most part withstanding the shortage of vehicles mainly because they can also take used vehicles. It's the auto dealers we're talking about auto nation group one penske all of them and it's not just these guys look almost all of the auto dealer stocks because of the used market being so strong and because what they are doing when it comes to new vehicles and the high transaction prices. Melissa spin a heck of a year for the auto dealer

Coming up next