DEARBORN, Michigan: Struggling Ford Motor Company is to slash car and truck production in North America by up to 12% in the first half of next year.
The country's number two automaker has cut production by 16% in this year's second half as it battles with huge losses [WARC News: 25-Oct-06] and sliding market share.
It is attempting to steer a course through a restructuring plan that involves the closure of 16 plants and the loss of nearly 45,000 jobs. It is offering buyouts to around 75,000 of its union workers.
Ford spokesman Oscar Suris says the company will increase production in the second half of 2007 by between 5% and 10% from this year's levels.
Data sourced from New York Times; additional content by WARC staff