Ford Motor Co. will delay introduction of its new F-150 pickup truck by two months and further cut production because of the declining market for pickups and sport utility vehicles, the automaker announced Friday.
Ford also said its 2008 automotive financial results this year will be worse than in 2007, when the company posted an overall net loss of $2.7 billion. Its shares fell more than 6 percent in morning trading.
The company said it expects industrywide U.S. sales this year to drop to a range of 14.7 million and 15.2 million units. Ford previously had predicted 15 million to 15.4 million units.
Because of that, Ford also said Friday it will cut …
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