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| 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 | |
|---|---|---|---|---|---|---|---|---|
| -0.0697 | -0.56% | 12.4203 | 12.76 | 12.39 | 12.64 | 47,509,383 | 00:59:25 |
From Nov 2023 to May 2024
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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