Shares of Ford rose 3.6% in March 3 afternoon trading, after the production announcement was made. “The industry is on its track back,” said Jeff Schuster, executive vice president of automotive for LMC and Global Data. Ford sales were up almost 22% in February. But in February, overall industry sales rose 9.5% over the same month a year ago, according to LMC Automotive, which sees sales increasing to 15 million this year. Overall in the U.S., auto sales fell almost 8% last year to just under 14 million, with Ford’s dropping just over 2%, according to Autodata Corp. ![]() But the chip shortage is easing and automakers like Ford are starting to increase production and build supplies on dealer lots. ![]() ![]() auto sales have been depressed largely due to a shortage of computer chips during the coronavirus pandemic. Production line speeds will increase shortly to raise production, with more workers coming later, he said.įor more than two years, U.S. Ford will also hire an unspecified number of new workers this year at plants in Cuautitlan and Hermosillo, Mexico, where the Mach-E, Maverick and Bronco Sport are made, according to spokesman Said Deep.
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