Ford says as many as 45,000 large pickups and SUVs won't be finished by the end of September because the automaker doesn't have all the parts
Ford said late Monday it will end September with between 40,000 and 45,000 large pickups and SUVs that it can't finish because it doesn't have all the parts.Negotiations on various supplies, which Ford did not identify, are raising its costs. The company warned late Monday that shortages and rising prices of supplies will cost it an extra $1 billion this quarter. Shares of Ford fell 5% in premarket trading Tuesday.
The shortage of vehicles, combined with strong demand from consumers, has sent vehicle prices soaring to record highs. Much of the windfall from higher prices is going to car dealerships, — which are independent businesses — rather than to the automakers, as most buyers are now paying above the manufacturer's suggested retail price, or sticker price. It has been common practice for decades for customers to pay less than the sticker price.
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