Economy

Ford to suspend production at 5 North American plants

Ford to suspend production at 5 North American plants”

The company has revealed that the Cuautitlan facility will be made idle for three weeks, the Hermosillo and the Flat Rock, Michigan factor would both be shut down for two weeks, whilst a further Michigan factory and Kansas City plants would also be closed for two weeks. A report from a European Ford manager suggested that the new Fiesta - unveiled earlier this year at the Geneva International Motor Show - won't make it to North America due to the struggle small cars are facing in this market. Other facilities which will see significant production cuts are the Hermosillo Assembly Plant in Mexico making the Fusion and Lincoln MKZ, and its Flat Rock Assembly Plant in MI which makes its Mustang.

"While it is good to see Ford trim production to meet demand, investors will likely read the cuts as further evidence that the United States industry continues to get more challenging as (seasonally adjusted annual rate) remains short of expectations", analysts at ISI Evercore said in a note Wednesday. The company did not say how many of those workers would face temporary layoffs.

Large inventories of unsold vehicles are to blame for the temporary production halts. According to Automotive News, as of September 1, Ford has 111 days' worth of unsold Mustangs, an 87-day supply of Fusions, 103-day supply for the Transit van, and a whopping 162-day supply of unsold Lincoln Continentals. Ford brand vehicle sales have dropped a staggering 20 percent while overall auto sales in the US have fallen 12 percent.



Like this

Latest


21 September 2017
Ilham Aliyev: Azerbaijan's territory has been occupied for more that 25 years
Armenia has not yet implemented four UN Security Council resolutions on withdrawal of its armed forces from the Nagorno-Karabakh and the surrounding districts.

21 September 2017
School Administrators Accuse Modesto Boy, 5, of Making Terrorist Threats
They say they don't want anything on their child's file saying he was suspended for making terrorist threats. As far as other parents at the school, Riley said they've been "really, really supportive".

21 September 2017
Rice Midstream Partners LP Comm (NYSE:RMP) Sees Significantly Higher Trading Volume
CCI is relatively high when prices are much higher than average, and relatively low when prices are much lower than the average. North Carolina-based Glob Endowment Management Limited Partnership has invested 0.26% in EQT Midstream Partners LP (NYSE:EQM).

21 September 2017
Red Cross training more volunteers to head to hurricane-affected areas
He stayed in Florida for the duration of the hurricane and recently returned to Nashville after helping with clean up. Donations for Hurricane Irma victims have been pouring in at the Red Cross office on East St.in Sarnia.

21 September 2017
How You Can Help Hurricane Irma victims in Barbuda and the Caribbean
Only pets were left on Barbuda . "We've had most of the people we've brought over to Antigua in shelters". Three people were killed in the storm and roughly 60 percent of the population was made homeless.

21 September 2017
Reynolds: No emergency session to plug revenue shortfall
The nonpartisan Legislative Services Agency said data does show major revenue improvements in the final months of accounting. Democratic candidate for governor, State Senator Nate Boulton, issued a statement following the announcement of Gov.

21 September 2017
The Good Place's Second Season Is Just Like Heaven
This is especially showcased in the first two episodes , which are premiering back-to-back in one long Rashomon-like tale. This review is about to get into spoilers relating to the Season 1 finale, which is best experienced fresh.

21 September 2017
Reliance Jio Phone Delivery Date Extended To October 1st
The pre-order for JioPhone started on August 24 but was stopped due to heavy demand and enormous response from the public. Now as per the latest reports, Reliance Jio Phone Delivery Date is not September 21st, it is taking one more week.

21 September 2017
Liam Hemsworth supports marriage equality in Australia
Tasmania has passed a marriage equality bill and campaigns are moving forward in South Australia, the ACT and New South Wales. Cyrus revealed in a recent interview that the 27-year-old Liam Hemsworth "doesn't want to be called a straight dude".

21 September 2017
Dan Gilbert's Bedrock announces 4 new developments in downtown Detroit
Gilbert says the addition to campus Martius should be done in about two years and all four projects should be done in five. The $900 million plans would develop the tallest tower in the city.



Recommended