Bronco SUVs in production at Ford’s Michigan Assembly plant, June 14, 2021.
Michael Wayland|CNBC
DETROIT– Ford Motor is cutting production next week of numerous crucial items due to a continuous worldwide scarcity of semiconductor chips.
The car manufacturer on Friday validated production downtime next 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 plants in Michigan, Illinois, Missouri and Mexico due to the parts scarcity.
The car manufacturer likewise is cutting some productions of the F-150 and Ford Transit freight vans at plants in Michigan and Missouri.
The cuts signal the chip scarcity that ravaged the car market in 2015 continues to remain. They come a day after Ford considerably missed out on Wall Street’s revenues expectations due to lower-than-expected production triggered by the supply chain problems, triggering shares to topple 9.7% on Friday.
“The global semiconductor shortage continues to affect Ford’s North American plants – along with automakers and other industries around the world,” Ford stated in an emailed declaration. “Behind the scenes, we have teams working on how to maximize production, with a continued commitment to building every high-demand vehicle for our customers with the quality they expect.”
The reality that Ford is cutting a few of its most rewarding and sought-after designs such as the Bronco, Mach- E and F-150 reveals car manufacturers continue to fight with the issue regardless of lots of in the market anticipating a progressive enhancement in the supply of chips in 2022.
Ford offered 1.9 million automobiles in the U.S. in 2021, down by 6.8% as it handled through an international scarcity of semiconductor chips. The parts issue required Ford and other car manufacturers to sporadically shutter plants and diminished lorry stocks.
After increasing by approximately 140% in 2021, shares of Ford are down by 13.5% this year.
