Farley said that in the three weeks since Ford resumed North America production May 18, the automaker has hit roughly 96 percent of its planned volume. It’s in the process of adding shifts and overtime at plants around the country and expects to be at pre-coronavirus patterns by July 6.
Ford has said it expects to lose $5 billion in the second quarter because of the pandemic.
Hackett and Farley reiterated that Ford’s upcoming launches of high-profile vehicles including the Bronco SUV, F-150 pickup and Mustang Mach-E electric crossover will be delayed by about the two months that its factories were shut down, but the automaker does not envision further setbacks.
Ford is preparing to unveil the next-generation F-150 this month, and it will reveal the Bronco in July. Both reveals were upended by the pandemic.
While Ford no longer publicly reports monthly sales, Farley said the company’s May U.S. new-vehicle sales rose 44 percent compared with April — a sign that demand was returning following statewide shutdown mandates.
He said F-Series sales were up 5.3 percent year over year in May and that Ford gained an estimated 2.4 percentage points in pickup market share.
Farley said Ford had a roughly 73-day supply of F-Series pickups and has flipped “lots of units” from fleet to retail to keep up with a shortage of inventory on dealership lots because of the production halt.
The automaker is preparing to ramp down production of the current model as it changes over to the next generation, due out this year.
“We feel great about where we are on F-Series,” Farley said.