Ford delays F-150 by 2 months, 2008 financial results will be worse

FoMoCo announced today that it will delay the introduction of the 2009 Ford F-150 by two months and further cut production of the model due to the declining demand in the pickup and SUV segment. Ford also said that its financial results this year will be worse than in 2007. Ford posted an overall netloss of $2.7 billion last year.

The Dearborn automaker said that it will cut production in the 3rd-quarter by another 50,000 units building a total of 475,000 vehicles, a 25 percent drop than the third quarter last year.

FoMoCo said it also sees a drop in production for the 4th-quarter by 8 to 14 percent. Of course most of those production cuts will come from shutting down at pickup and SUV plants.

The company announced yesterday that it will cut a shift at its Kansas City F-150 production line and add a shift to its crossover production that includes the Ford Escape, Mercury Mariner and Mazda Tribute.

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Source: MSNBC