Ford F-150s plentiful enough to satisfy demand: CFO Bob Shanks
The impact of the halt of the Ford-150 production should be short term, Ford Chief Financial Officer Bob Shanks said Thursday during the company’s annual shareholder meeting.
Ford suspended all production of the F-150 on Wednesday after a fire at a key supplier’s manufacturing facility caused it to run out of parts.
It has 84 days left of supply, the company said. And while it’s unclear how long plants will need to wait before building F-150s again, dealers have enough supply to satisfy customer demands, according to Shanks.
"While the production shortage is expected to have an adverse impact on the company’s near term results, the company’s guidance of delivering an adjusted EPS in the range of $1.45 to $1.70 for the full year is unchanged," Ford said in a statement.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 12.14 | +0.08 | +0.66% |
The Ford F-Series is America’s top selling vehicle and a key profit generator for Ford.
Shares of Ford have lost 11% this year.
FOX Business' Jeff Flock contributed to this report.