Ford Motor Company is about to add to America's Rust Belt Blues: Reflecting their continuing sales struggles, Ford announced on Monday that it will temporarily shut down production of its bestselling F-150 pickup truck at several assembly plants throughout the country.
The production halt will only last for a week at Ford’s Kansas City, Missouri plant, although it will idle three other plants for a period of several weeks. The automaker is also shutting down two of its Mexican assembly plants and suspending production for two of its vehicles, the Ford Escape and the Lincoln MKC, at its assembly plant in Louisville, Kentucky.
This decision reflects a 3 percent decline in sales for the F-series pickup model line, as well as declining auto sales in general. Ford, in particular, was reported have hit a sales plateau after experiencing a steady boom following the 2008-2009 economic recession. Back in July, Ford’s stock plunged 8 percent, bringing it down to its worst day since 2011. The company’s total revenue has also leveled off in recent years, hovering between $140 and $150 billion from 2013 to 2015. Its global market share has also fallen considerable over the past decade-and-a-half, from nearly 10 percent in 2000 to 8 percent in 2006, hovering at between 4 percent and 5 percent since 2010.