Published May 23, 2008, 12:00 AM
Ford cuts North American production, cuts profit goal
Ford Motor Co. is cutting North American production of pickups and SUVs as car buyers eyeing record gas prices turn toward more fuel-efficient models.
DETROIT (AP) — Ford Motor Co. is cutting North American production of pickups and SUVs as car buyers eyeing record gas prices turn toward more fuel-efficient models. The automaker says it no longer expects to return to profitability by 2009 and didn’t rule out layoffs and plant closures.
Dearborn-based Ford also on Thursday cut back its projections for total U.S. light vehicle sales in 2008 to between 14.7 million and 15.1 million vehicles. That’s down from 17 million vehicles as recently as 2005. Light vehicle sales exclude heavy trucks.
Tags: ford, automaker, cutbacks, profits
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