Ford delays launch of new F-150

Big pick-up sales are hit by high gas prices and reduced construction spending. Automaker also expects more production cutbacks.

NEW YORK (CNNMoney.com) — With sales of full-size pickups in a steep decline, Ford Motor Co. said Friday it is delaying the launch of its new, redesigned Ford F-150 pick-up by two months.

The full-size pick-up, which had been due to enter showrooms in early fall will now come out in late fall, instead.

Ford also announced more production cutbacks. The company said it will produce 25% fewer vehicles in the third quarter of this year than it did in the same quarter of 2007. The cuts will be among Ford’s large trucks and SUVs.

Meanwhile, Ford said it is working to boost production of its small cars and crossover SUVs, products that have been attracting more sales this year even as overall auto sales have dropped.

CNN Money