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Saturday, May 24, 2008
Ford Cuts North American Production
Ford Motors has decided to cut North American production and profit goals. The fast rising gas prices have claimed their latest victim, Thursday, Ford Motor Co.. They have dropped their goal of becoming profitable by 2009 and said it will cut production of trucks and sport utility vehicles through the rest of this year. It was a warning shot to the rest of the beleaguered U.S. auto industry, which if facing its worst sales in more than a decade.They didn't rule out layoffs or plant closures in a slumping industry, but said it would release ore detail about its cost cutting efforts in July.
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