Ford Factory output to Soar by 40,000 Vehicles (F)
Buoyed by stronger demand for its cars and trucks, Ford Motor Co. (NYSE: F) is contemplating to add a week of production at 13 North American factories so the company can make another 40,000 vehicles this year.
The Company said on Tuesday that it would cut in half the normal two-week summer shutdown in its six assembly plants and seven engine and parts plants. Normally, auto plants are shut for two week around July 4 holiday as they switch to next productions schedule for the model year.
According to a data compiled by Autodata Corp., U.S auto sales ran at an annual rate of more than 14 million, significantly higher than last year’s 12.8 million, Ford sales also rose 5% in the same period. Meanwhile, Total U.S. car and truck sales also climbed up 10.3 percent through April to 4.65 million vehicles.
Analysts are now expecting sales of new vehicles to stand at 15 million for 2013.
Jim Tetreault, vice president of North American manufacturing at Ford Motor Co. said that “most factories have been running at capacity, and the company is adding third shifts at three plants just this month to meet higher demand.”
Tetreault also added in a statement that “Requiring more capacity from our plants is a good problem to have, and having the flexibility to add a week of production in our plants goes a long way toward solving it.”
Ford is second company to announce a raise in production levels this year after cutting its summer shutdown time.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht. |
