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Ford Motor is searching for to halt automobile manufacturing at eight North American vegetation for varied durations by way of the month of June as a result of a persistent scarcity of semiconductors, which is anticipated to halve the corporate’s manufacturing output within the second quarter of 2021, CNBC studies, citing an obtained inside memo.
Within the second half of the yr, the corporate expects to lose 10% of its manufacturing. In the meantime, in complete, by 2021 the chip scarcity can have prevented Ford from producing practically 1.1 million automobiles, starting from the Ford Mustang and Escape crossover to the extremely worthwhile F-150 pickup and Bronco Sport SUV. The manufacturing stoppage is estimated to price the automaker round $2.5 billion.
“Our groups proceed to take advantage of our obtainable semiconductor allocation and can proceed to search out distinctive options to ship as many high-quality automobiles as attainable to our sellers and clients,” Ford mentioned within the emailed be aware.
That is one other instance of restricted provide within the financial system that can put upward strain on costs.
– RW