Are you prepared for Wrath of the Lich King? WoW Insider has you covered!

AOL Money & Finance

Ford shutting down Michigan and Kentucky plants this summer

Ford Motor Co. (NYSE: F) is following the lead of General Motors Corp. (NYSE: GM) and is cutting production at two plants where it produces large trucks. Just like large SUVs, trucks are seeing sales plummet as gas sits around $4 per gallon for most of the country and drivers are reaching for the econo-car for those daily drives. Unless one really needs the utility a truck provides, trucks are sitting idle all over the country.

Ford will be shutting down a truck plant in Wayne, Michigan for nine weeks and a plant in Louisville for four weeks. Those plants are responsible for the Expedition full-size SUV and the F-Series Super Duty trucks. Both are staples of Ford. Or, they were until gas fill-ups for both started reaching the $75 level. Ford's sales for the Expedition has slid 31% this year, and the F-Series have tanked about 19% as well.

Ford will still carry on with its annual summer shutdown by idling all U.S. and Canadian plants the weeks of July 7 and 14, and the automaker has also retreated from its goal of reaching profitability in 2009. Looks like CEO Alan Mulally's Way Forward plan unveiled a few years ago could not have possibly anticipated gas prices completely interrupting buying patterns for Ford products. Preparing for the unanticipated, though, is part of the long-term planning process from any executive manager, right? Ford's road will continue to be bumpy all the way through 2010.

Related Posts

Reader Comments (Page 1 of 1)

Add your comments

Please keep your comments relevant to this blog entry. Email addresses are never displayed, but they are required to confirm your comments.

When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.

To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.

Symbol Lookup
IndexesChangePrice
DJIA-344.6511,188.23
NASDAQ-74.692,259.04
S&P 500-38.151,236.83

Last updated: September 05, 2008: 06:07 AM

BloggingStocks Exclusives

Hot Stocks

BloggingStocks Featured Video

TheFlyOnTheWall.com Headlines

WalletPop Headlines

AOL Business News

Latest from BloggingBuyouts

Sponsored Links

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance