Ford Announces Sharp Cuts in Production
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DETROIT (AP) – Ford Motor Co. on Friday announced sharp cuts in its North American production that would force it to partially shut down plants in the U.S. and Canada in the fourth quarter.
The company said fourth-quarter production would be down 21 percent, or 168,000 units, from last year. Third-quarter production will be 20,000 units below what was previously announced.
For the full year, Ford plans to produce about 9 percent fewer vehicles than last year.
“We know this decision will have a dramatic impact on our employees, as well as our suppliers,” Chairman and Chief Executive Bill Ford said in a note to employees. “This is, however, the right call for our customers, our dealers and our long-term future.”
