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.



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