Ford Motor Company (NYSE: F) is at least positioned better than its U.S. based competition, but that doesn't mean it's doing well. Indeed, the recession is costing the automaker plenty in terms of deep losses and other hurt. Now we can add a production decrease in the second quarter of 2009 to that list.Ford announced that it would be taking down production 38% in the second quarter of this year, as it continues seeing a sales slide due to the ongoing recession. Instead of producing 685,000 vehicles in the second quarter, Ford will make 425,000 vehicles: 135,000 cars and 290,000 trucks.
Stalling plants (and closing them) may at least give Ford the viability that General Motors Corporation (NYSE: GM) doesn't seem to have -- even after a multi-billion bailout by the U.S. federal government. Ford's prudent cost-cutting and management moves by CEO Alan Mulally have at least put the company on a better footing than it had just a few years ago when very few people predicted the predicament we're all in now. Now, if only Ford could just sell off those non-core brands it'd be in even better shape.
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Reader Comments (Page 1 of 1)
3-06-2009 @ 7:02AM
sandymathis28 said...
I can't believe that Ford is taking down prodcution by 38%! Where ever i see some one is talking about recession only, it has affected badly to all of us.
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5-07-2009 @ 2:24AM
vcao said...
"Ford's prudent cost-cutting and management moves by CEO Alan Mulally have at least put the company on a better footing than it had just a few years ago when very few people predicted the predicament we're all in now"