Ford might close more plants in US to cut losses

The problems continue for the second largest American automaker in their domestic market as Ford announced that they might be forced to close more production plants in the country to cut the losses they are making. The company started plans to cut costs back in 2002 and they have more or less failed as ford continues to struggle against the Japanese companies.

Ford President James Padilla said in a statement about their upcoming plans: “We will align our capacity with demand and see how that falls”. The company has already closed their Jaguar Browns Lane plant in the U.K. and will soon close a van plant in Lorain, Ohio. More might follow as the company try to get back to profitability.

The company has lost its share in their domestic market for 28 straight months until July and August. However, the bounce back was more due to a new scheme from the company that let the consumers buy ford vehicles at employee prices. One of the most likely plants for closedown is said to be the Wixom, Michigan based plant that makes the Lincoln Town Car and other models.

The market analysts believe that the plants making the gas guzzling trucks to be the main target considering more and more Americans are preferring to buy fuel-efficient vehicles looking at the ever growing fuel prices in the world.