Ford will increase production of six models this year, half of them electric, as the company and the auto industry start to rebound from sluggish U.S. sales in 2022.
The automaker announced Friday that it plans to build more of the Mustang Mach-E, the Bronco Sport SUV and Maverick small pickup, the F-150 Lightning electric pickup, and the Transit and E-Transit gas and electric full-size vans.
For more than two years, U.S. auto sales have been depressed largely due to a shortage of computer chips during the coronavirus pandemic. But the chip shortage is easing and automakers like Ford are starting to increase production and build supplies on dealer lots. Shares of Ford closed Friday up 4.2 per cent, getting a boost after the production announcement was made.
Mach-E production will rise to an annual rate of 210,000 by year's end, while the company plans to boost Bronco Sport and Maverick production by 80,000 vehicles this year. Transit and E-Transit production will rise by 38,000 this year.The production jumps are good news for consumers, who have had long wait times for some more popular models and have been forced to pay high prices due to strong demand and short supplies.
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