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F Ford Motor Company

12.13
0.02 (0.17%)
25 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Ford Motor Company NYSE:F NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.02 0.17% 12.13 12.27 12.04 12.16 40,849,899 00:59:55

Ford to Cut Production of Electric F-150 Pickups Amid Weaker Demand

19/01/2024 2:02pm

Dow Jones News


Ford Motor (NYSE:F)
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By Ben Glickman

 

Ford will slash production of its electric pickup, the F-150 Lightning, after seeing weaker-than-anticipated demand.

The automaker said Friday that it was looking to balance production, sales growth and profitability for its electric pickup trucks. Ford said it expects slower EV sales growth than anticipated in 2024.

Ford said about 1,400 employees would be affected as Rouge Electric Vehicle Center moves to one shift effective April 1. Some workers will be transferred to production of gas-powered vehicles.

The company said about 700 workers will be transferred to its Michigan Assembly Plant, while others would be placed at the Rouge Complex or other facilities. Workers will also be able to take advantage of the special retirement incentive program under the recent union contract.

Ford also announced it would add a third crew at its Michigan Assembly Plant to increase production of Bronco sports-utility vehicles and Ranger pickups. The company said the added production, meant to match higher demand for the vehicles, would create 900 jobs.

 

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

January 19, 2024 08:47 ET (13:47 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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