It was only a matter of time before Ford (NYSE:F) would have to admit it was affected by the part shortage resulting from the earthquake in Japan, as they had been saying they were experiencing no disruptions. They are now. Others like General Motors (NYSE:GM), Toyota (NYSE:TM) and Honda (NYSE:HMC) have also had to cut back on production in response to the disaster.
Ford is shuttering production at two of its auto plants for a week. One in Kentucky starting on Monday and the other in Michigan. The plant in Michigan is halting because of slow sales of Mustangs.
In Kentucky its in relationship to the F-Series Super Duty truck.
George Pipas, a sales analyst for Ford Motor Co., said, “We have business buyers who use the vehicle to make a living, and demand from that sector right now is pretty strong,” Pipas said, noting that overall sales for F-Series trucks rose to 53,272 in March, up 25 percent from a year ago.
“We have seen lower demand from individual buyers, and our sense is that the higher gas prices we’ve all been exposed to over the past three months has put some of those buyers on the sidelines.”
Ford closed Friday at $15.16, gaining $0.25, or 1.68 percent.
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