A global semiconductor shortage is expected to slash Ford Motor Co.’s vehicle output by up to 20% in the first quarter of this year, illustrating how deeply the fallout from the computer-chip crunch has hit the car business.
Ford said Thursday it plans to cut production of its F-150 pickup truck—the nation’s top-selling vehicle and the company’s biggest moneymaker—because of the shortage, a day after confirming a hit to output of several sport-utility vehicles. Losses of vehicle production globally in the first and second quarters could trim $1 billion to $2.5 billion from its pretax bottom line this year, executives warned while discussing fourth-quarter earnings.
