Ford to delay introduction of new F-150 pickup due to sagging sales, need to reduce inventory

Ford Motor Co. says it will delay introduction of its new F-150 pickup truck by two months because of the declining market for the vehicles.

The company also said Friday it expects industrywide U.S. sales this year to drop to a range of 14.7 million and 15.2 million units. The company previously had predicted 15 million to 15.4 million units.

Because of that, Ford says it will cut third-quarter production by another 50,000 vehicles. It now plans to produce 475,000 vehicles, 25 percent fewer than the third quarter of last year.

The company also says fourth-quarter production will drop 8 to 14 percent compared with the same quarter last year.