Ford is planning to boost its North American production by 2 percent in the first half of 2020, according to Reuters, as the company looks to make up for lost sales from General Motors Co. and Fiat Chrysler Automobiles NV.
The Dearborn, Mich.-based automaker has not yet announced what vehicles would get the boost in production but it could be some of its most popular models, including the F-Series pickup truck line and the Mustang sports car. Ford Motor Co. said Monday it will raise production of its Ford F-Series pickup truck line and invest in new powertrain technology as U.S. auto sales start to recover.
The Dearborn, Michigan-based automaker said it would add a third shift at its Louisville Assembly Plant in Kentucky to produce more F-Series trucks, which have been selling well since Ford launched them in 1999. The expansion will add about 400 jobs over the next three years, Ford said.
Ford also plans to invest $10 million at its Romeo Engine plant in Michigan to develop new engines for its F-Series trucks and other vehicles.
"We're making these investments because we know customers want us to provide products that meet their needs," Mark LaNeve, chief operating officer of Ford's Americas division, said in a statement.
Ford Motor Co. said Monday it would raise production percentage in the United States to a record 21.5 million cars and trucks as sales recover from last year's hurricanes.
The Dearborn, Michigan-based automaker said it expects sales of light vehicles to increase 5 percent to 6 percent during the second half of 2023, better than the 2 percent gain it forecast in January when Hurricane Florence hit North Carolina. The automaker has been focusing on rebuilding its lineup after hurricanes Florence and Michael hit last fall.
Ford Motor Company said it will increase production of its popular F-Series pickups by a huge margin percentage in North America and by 2 percent in Europe too.
The move will be a boost to the auto industry, which has been struggling with a drop in demand for vehicles as consumers hold on to their cars longer because of rising fuel prices, interest rates and fears about the economy.
The F-Series is the No. 1 selling vehicle in America for 23 years running, according to the National Highway Traffic Safety Administration. The truck accounts for more than 13 percent of Ford's total sales worldwide. Ford Motor Company is one of the top brands in automobiles, and it has been for over a century. The company was founded by Henry Ford in 1903 as a producer of steam-powered vehicles, but it has grown into a major manufacturer of cars, trucks and other vehicles.
Ford has been making cars since 1903. In fact, Ford was so successful that the company became known as "The King of American Industry." When Henry Ford started manufacturing cars, people thought he was crazy. They thought that cars would never be able to compete with horses when it came to transportation and transportation costs. But Henry Ford proved them wrong.
Today, Ford is still one of the largest brands in automobiles. Ford's major competitors at the time were General Motors, which had been making cars since 1908, and Chrysler Corporation, which began producing its own vehicles in 1925.
Ford was also a pioneer in mass production and assembly line techniques. He began building cars with interchangeable parts in 1914, allowing customers to order any combination of engine, transmission and body styles they wanted. This approach allowed him to reduce costs while increasing sales volume.