Ford Motor Co and General Motors will each halt production next week at a Michigan plant due to parts shortages, the two companies said separately on Thursday.
Highlights
- Ford Motor Co and General Motors will each halt production next week at a Michigan plant due to parts shortages.
- The auto industry is grappling with a global chip shortage triggered by the COVID-19 pandemic, forcing companies to cut production.
- Ford said it would suspend production at its Flat Rock Assembly Plant next week, where it builds the Mustang, due to the global semiconductor shortage.
- GM said the production halt was not related to chips but provided no other specifics.
- The car makers warned last month that the chip shortage would lead to a decline in vehicle volumes in the current quarter.
- But high car prices have partially offset the financial impact of the impact.