Ford Motor Company will reduce the production of its F-150 pickup truck despite increased demand due to the ongoing semiconductor shortage.
During the week ending Feb 12, the company will cut two of the three shifts at its Dearborn, Michigan plant and one shift in the truck division of its Kansas City, Missouri plant. Ford did not disclose the exact volume that would be lost but said that production could decline by 10-20pc in Q1 2020.
The company sold 143,578 units in January, down 8.3pc from the same month last year. However, its SUV sales increased by 7.6pc on an annual basis to 60,954 units last month. The company’s trucks division reported the best start to the year since 2008 to 74,928 units with retail sales growing by 9.9pc from a year ago.