The cuts come a day after Ford significantly missed Wall Street’s earnings expectations due to supply chain issues, sending shares to tumble 9.7% on Friday.
Highlights
- Ford Bronco, Explorer, F-150, Ranger, Mustang Mach-E, Lincoln Aviator SUV among key products.
- Production downtime is due to an ongoing global shortage of semiconductor chips.
- The cuts come a day after Ford significantly missed Wall Street’s earnings expectations due to lower-than-expected production caused by the supply chain issues, causing shares to tumble 9.7% on Friday.
- The chip shortage that devastated the auto industry last year continues to linger, sending shares tumbling 9.3% on the day of Ford’s earnings report.
- Ford Motor is cutting production next week of several key products at plants in Michigan, Illinois, Missouri and Mexico.