Ford Cuts F-150 Production
The Kansas City Star reports that sluggish sales of Ford's former cash cow, the F-150 pickup truck, have led to a dramatic production slow-down. For two weeks in October, FoMoCo will idle half their operations at the pickup-producing Claycomo plant. Some 2100 (of 4400) hourly employees will be paid for doing naught. And thanks to "competitive operating agreements" negotiated with the United Auto Workers, returning employees will work 10-hour shifts for four weekdays with Fridays off. Currently, Ford dealers are holding 185,400 F-series trucks in their lots, which represents a 72-day inventory. (This after Ford's Norfolk F-150 plant was permanently shuttered last year.) Hot on the heels of GM's pickup truck pull-back (now a full stop, obviously), the F-150 slowdown is more proof that the entire pickup segment is undergoing a radical contraction. The trend will hit The Big 2.8's bottom lines but good.