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U.S automaker Ford Motor Co. said on Monday it was scaling back production at its plants in Cologne and Saarlouis for the next few weeks owing to a semiconductor chip shortage.

“The situation on the global semiconductor market remains tense and, according to all estimates, will continue to be so in the coming months, resulting in supply bottlenecks,” a spokeswoman for Ford said in a statement.

The car maker said it planned to make up for lost production “as best we can” and would prioritize vehicles already ordered by customers.

Ford said around a third of its 15,000 workers in Cologne would be put on shortened working hours from May 3 until June 18 and June 30 to July 9. It said production would restart on Aug. 16 after the subsequent plant holiday.

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Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 12/04/24 2:41pm EDT.

SymbolName% changeLast
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Ford Motor Company
-3.99%12.52

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