Ford Says It Will Idle A Mustang Factory Amid Plummeting Sales

Sales of
Ford Motor CompanyF
's Mustang sports cars have fallen 32 percent in the United States last month, which prompted the automaker to idle a factory.

Sales of Ford's iconic Mustang brand not only fell last month but it was outsold by the Chevrolet Camaro for the first time in nearly two years, according to Bloomberg. As such, Ford will idle its factory in Flat Rock, Michigan, to better align capacity with demand.

The plant employs 3,702 workers and also manufacturers Lincoln Continentals. As part of a labor agreement, workers will still be paid during the week-long shutdown and production will resume on October 17.

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So far this year, Ford has sold 87,258 Mustangs, which marks a 9.3 percent dip compared to the same period a year ago.

Bloomberg suggested that the plant's shutdown could be a sign of the auto market's "growing weakness." In fact, automaker's monthly sales metrics have been coming in short of expectations and it is unclear if the auto industry as a whole will match last year's record of 17.5 million vehicles sold.

Shares of Ford have lost more than 13 percent since the start of 2016 nearly 19 percent over the past year. This compares unfavorably to General Motors Company GM's stock, which has lost 5 percent since January 1 and just 2 percent over the past year.

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Posted In: NewsMediaTrading Ideasauto salesChevy CamaroFord Auto SalesFord MustangMustangMustang Sales
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