Lost truck production will hit second quarter earnings, says Ford

13 May, 2018, 08:56 | Author: Arnold Perez
  • Lost truck production will hit second quarter earnings, says Ford

Ford is now working with Meridian to shift production of the affected parts to other suppliers until production can resume at the fire-damaged plant.

Those plants manufacture the Ford F-150, the top-selling vehicle in the US.

When Ford announced that it had shut down the three pickup assembly lines, it also noted that its annual guidance of adjusted earnings per share between $1.45 and $1.75 would still hold.

The shortage of parts could knock out production of Ford's best selling and most profitable vehicle, the F-150 pickup truck.

Ford has shut down it's truck plants in Kansas City, Missouri, and Louisville, Kentucky.

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But the company temporarily shut down production of the truck after a fire at a supplier's plant in MI last week. An explosion and fire at Meridian's facility in Easton Rapids, Michigan, last Wednesday completely knocked production of components used in the instrument panel of the F-150.

"This is a fluid situation", Joe Hinrichs, president of global operations at Ford said in a statement on Wednesday. At this point there is no word on just how long production of the F-150 will be halted, a Ford spokesman has said that it would last at least a few days.

Dealers' inventories of the f-series trucks are large enough to prevent near term shortages.

One of the biggest sellers in all the automotive realm is the Ford F-150 truck. Ford is also working on getting production up at other factories.



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