Ford Cuts Ahead

More not good news in the US auto industry. Ford Motor Co. said that it will slash fourth-quarter U.S. vehicle production as it attempts to accelerate ongoing restructuring activities and lessen the impact of high gasoline prices on its business.The auto maker, struggling to stabilize U.S. market share and reverse deep financial losses in North American automotive operations, said in a press release that it plans to cut fourth-quarter production by 168,000 vehicles, or 21%, compared with the year-earlier total. Ford also plans to cut third-quarter production by about 9%. More here.