Ford isn't the only automaker suffering from a shortage of chips and parts, General Motors had to park 95.000 unfinished vehicles for lack of supplies!
Due to supply issues and chip and supply shortages, Ford is currently having to store thousands of unfinished pickup trucks at racetracks. About 45.000 vehicles are being held in their inventory this quarter until they receive essential parts. The automaker is not the only one facing the same scenario, General Motors also has thousands of unfinished cars that are waiting for parts.
Additionally in a press release, Ford acknowledged that inflation-related supplier costs are now costing $1 billion more than originally projected.
"Part shortages will result in a higher number than planned and the trucks will remain in Ford's inventory awaiting needed parts at the end of the third quarter," the statement added. “The company believes these vehicles – an expected 40.000 to 45.000 of them, largely pickup trucks and SUVs – will be completed and sold to dealers during the fourth quarter.”
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As seen below, Ford has started storing the trucks at the Kentucky Speedway. Satellite photos reveal parked vehicles piling up rapidly for nearly a month due to shortages of chips and parts.
The Kentucky Speedway is less than two hours from the Louisville Assembly Plant. This factory is the main place where Ford pickup trucks are built.
General Motors had to park 95.000 unfinished vehicles due to semiconductor shortages
The automotive industry is still experiencing the effects of the global pandemic and it looks like it may be a while before things get back to “normal”. One of the main side effects of the pandemic is the shortage of semiconductors, which are crucial for the production of vital electronic automotive components.
In February 2021, the semiconductor shortage was so bad that Ford had to temporarily halt F-150 production at two US plants. In July of this year, GM reported that it had to park 95.000 unfinished vehicles while it waited on chips.
Shortly after the reveal of the new 2024 Chevrolet Equinox EV, GM CEO, Mary Barra, predicted in an interview that semiconductor shortages would likely continue into 2023 and 2024. “I frankly think it's something that will last into next year; maybe a little further,” said Barra. With automakers pledging to deliver more electric vehicles by 2030, this continued shortage of semiconductors could result in delays in those promises.
"The global semiconductor shortage continues to affect Ford's North American factories - along with automakers and other industries around the world," a Ford spokesperson told the The Drive.