Ford's June Sales Fell 27% in U.S. Due to Chip Shortage
Source: Wall Street Journal
Ford Motor Co. reported a 26.9% drop in its June U.S. sales compared with the same month a year ago, reflecting the impact the auto maker has experienced during a global shortage of semiconductor chips.
Ford’s results Friday come a day after most major auto makers reported their U.S. sales, with results indicating a slowing in the blistering pace the industry had experienced earlier in the year.
Ford also said this week that the chip shortage will force the car company to reduce or stop production at more than a half-dozen U.S. factories in July, including its pickup truck factories and an SUV factory in Chicago.
For the second quarter, Ford’s U.S. sales increased 9.5% compared with the April-to-June period in 2020. That is still a more modest gain than rivals General Motors Co. and Jeep-maker Stellantis N.V., which reported second-quarter sales increases of 40% and 32%, respectively.
Read more: https://www.wsj.com/articles/fords-june-sales-fell-27-in-u-s-due-to-chip-shortage-11625233213
My car that is 11 years old with over 150,000 miles is on its last legs, so I am just hoping that nothing major goes wrong over the next two years since it is just tough to find car.
The crazy thing is that for all of Trump and Republican complaints over the past four years about imports, it took Biden less than a year to advance a bill to boost infrastructure and chip production domestically. I guess Republicans wanted to focus the budget on cutting taxes for themselves and their buddies.
https://www.theverge.com/2021/6/8/22457293/semiconductor-chip-shortage-funding-frontier-china-competition-act
After months of political jockeying and procedural hurdles, the Senate approved a massive science and technology bill Tuesday to boost US competitiveness with China. The bill invests billions into emerging technology industries like artificial intelligence, semiconductors, and quantum computing in the US.
The bill — titled the US Innovation and Competition Act or USICA — builds off a previous proposal from Senate Majority Leader Chuck Schumer (D-NY) called the Endless Frontier Act. Endless Frontier was lauded as one of the first big bipartisan bills to come from the Biden administration. But over the last few months, the bill, which was seen as a must-pass piece of legislation for both parties, was bloated with political mush and much of the original funding was watered down as it moved through the Senate process.
In its current form, the bill provides $52 billion for domestic semiconductor manufacturing, as well as a 30 percent boost in funding for the National Science Foundation and $29 billion for a new science directorate to focus on applied sciences.
“Whoever wins the race to the technologies of the future will be the global economic leader,” Schumer said in a tweet on Tuesday. “We must invest in science, R&D, manufacturing, and innovation.”
= new reply since forum marked as read
