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Dec

Ford to trim production in Q1 of 2008

Posted by galardo  Published in Ford


Ford has announced that it will trim its first quarter 2008 production by 7.4%. The automaker plans to produce 685,000 vehicles during the first quarter of 2008, down 55,000 units from the same period in 2007. The move is to control inventory amid concerns that the North American car market will be down in 2008.

“Clearly with the economy and the subprime credit and housing being down, we continue to watch that very carefully as we move into 2008,” Ford CEO, Alan Mulally, told Automotive News. “Of course, the most important thing we can do is adjust our production to the real demand, which we’ve done very carefully and very decisively during this last year.”

Ford will cut car production by 6% and truck production by 8%. The Detroit-based automaker began to cut back production during the fourth quarter of 2006.

Source: Ford to trim production in Q1 of 2008