May 22nd, 2008 by Liz Opsitnik
Ford Motor Co. says it is cutting North American production for the rest of the year as high gas prices and the weak economy depress its sales.
Ford said Thursday it also expects to break even in 2009, scaling back its goal of returning to profitability by that time.
Ford says it will cut production by 15 percent in the second quarter, 15 to 20 percent in the third quarter and two to eight percent in the fourth quarter.
The production cuts are aimed at pickup trucks and SUV’s, which have seen sales nose-dive recently, but production of cars and crossovers is planned to increase, reports msnbc.com.
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