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Ford cuts production at 5 plants, has big backload of cars including Mustang

DETROIT — Ford said on Tuesday it plans to idle five North American vehicle assembly plants for a total of 10 weeks to reduce inventories of slow-selling models. The plants affected include three assembly plants in the United States and two in Mexico, the company said in a statement. The vehicle models include the Ford Fusion and Lincoln MKZ midsize sedans, the Ford Focus compact car, the Lincoln Continental and Ford Mustang, Ford Fiesta and the Ford Transit van. Ford said the Cuautitlan assembly plant that builds the Fiesta would be idled for three weeks. The Hermosillo, Mexico plant that builds the Fusion and MKZ and the Flat Rock, Michigan, factory that assembles Continentals and Mustangs will be idled for two weeks each. The Michigan Assembly plant that builds the Focus will be idled for one week, and the Kansas City assembly line that builds Transit vans will be down for two weeks. Ford did not give dates for the temporary shutdowns. The factories involved employ more than 15,000 people, according to Ford's website. The company did not say how many of those workers would face temporary layoffs. As of Sept. 1, Ford had 111 days' worth of unsold Mustangs, 87 days' supply of Fusions, and a 103 days' supply of Transit vans, according to Automotive News. Dealers had enough unsold Lincoln Continentals to last 162 days. Automakers aim for 65 to 70 days of inventory of most models. Ford and rival General Motors have wrestled most of this year to rein in high inventories of passenger cars as consumers have shifted to buying pickup trucks and sport utility vehicles. Production cuts slice into revenue, but also could help the automakers avoid deeper price cuts on vehicles they can sell. Reporting by Joe WhiteRelated Video: Image Credit: Reuters Plants/Manufacturing Ford Lincoln Convertible Coupe Minivan/Van Sedan ford transit inventory flat rock kansas city assembly plant hermosillo

American automakers fall in latest Fortune 500 rankings

Not that it means anything beyond bragging rights, but if you're fixated on the positions of domestic automakers on the annual Fortune 500 list, both General Motors and Ford are still on it but they've slipped a couple of notches. The list ranks American companies and they're ordered solely by revenue. GM, fifth last year, came in seventh, while Ford fell from ninth to tenth even though both companies saw small gains in annual revenue.
GM's $152.3 billion in revenue was less than a third of that of the first company on the list: Wal-Mart, which regained the title from Exxon Mobil. Berkshire Hathaway and Apple are the firms that moved GM down. Ford, displaced by energy company Valero, had $134.3 billion in revenue.
On a side note, profitability isn't a factor, but both GM and Ford were down in this year's list compared to last year's: GM declined from $9.2 billion to $6.2 billion, Ford fell from $20.2 billion to $5.6 billion. If profits were included, Exxon Mobil would probably still be king: although the energy company made almost $20 billion less in revenue than Wal-Mart's $469.2 billion, it posted $44.9 billion in profit compared to Wal-Mart's $17 billion.

Awaiting Chevy Trailblazer, driving Ford Ranger | Autoblog Podcast #580

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski and Green Editor John Beltz Snyder. First, they discuss the news, including the Chevy Trailblazer, Ferrari to stop providing Maserati with engines, an upcoming Ferrari Hybrid, Elon Musk's sex jokes and the reveal of the McLaren GT. They also talk at length about a couple vehicles they've been driving: the Kia Niro EV and the Ford Ranger. Autoblog Podcast #580 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Chevy Trailblazer could be coming to the U.S. Ferrari to stop supplying engines to Maserati Ferrari to reveal a hybrid supercar Sex on Autopilot McLaren GT revealed Cars we're driving: 2019 Kia Niro EV 2019 Ford Ranger Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Green Podcasts Chevrolet Ferrari Ford Kia Maserati McLaren Tesla Truck Coupe Crossover Hatchback Electric Future Vehicles Hybrid Off-Road Vehicles Performance Supercars