Ford Motor Co. is delaying delivery of its popular F-series pickup truck and other models because is doesn’t have enough of its oval nameplates to put on the vehicles, the Wall Street Journal reported Friday.
The badge shortage underscored the post-pandemic supply chain challenges Ford and its competitors are facing. In particular, a computer-chip shortage has slowed deliveries throughout the industry. The chips are necessary for safety features to function, including automatic braking systems, backup cameras and airbag deployment.
Ford earlier said it didn’t have enough parts to finish making up to 45,000 pickups and SUVs. General Motors, Daimler Chrysler and nearly every other large automaker have made similar announcements this year.
On Monday, Ford said the supplier squeeze would cost it $1 billion more than expected. The supply shortage has led Ford and other auto makers to reduce operations and temporarily shutter plants.
Auto industry analysts at AlixPartners forecast the shortage to last into 2024.
Shares of Ford (F) dropped $0.61, or 4.74%, to $12.16 in late trading Friday.