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As Ford CEO Jim Farley Talks About Shortage Of Mechanics, This TikTok User Says There's A Debt Problem: 'They Just Financially Can't' - Ford Motor (NYSE:F)
Benzingaยท 2025-10-06 06:03
Core Insights - Ford Motor Co. is experiencing a significant shortage of repair technicians, estimated at 400,000 across the economy, which is impacting service availability and repair times [2][3] - The average waiting time for repairs at Ford dealerships is currently two weeks, with many service bays lacking technicians [3] - Financial barriers are preventing potential technicians from entering the field, as trade school costs and low starting wages are significant concerns [4] Technician Shortage - CEO Jim Farley highlighted the critical shortage of repair technicians, attributing it to factors such as permits, regulations, and societal perceptions [2] - There are currently 6,000 service bays in Ford dealerships without technicians, exacerbating repair delays [3] Financial Barriers - A TikTok user pointed out that aspiring mechanics often incur debt to attend trade school, which deters many from pursuing this career [3] - Entry-level positions at Ford dealerships offer wages around $19 to $21 per hour, which are insufficient for many potential technicians [4] Company Performance and Strategy - Ford has faced multiple recalls in 2025, including a significant recall of 115,000 pickup trucks due to steering column issues [5] - The company has cut over $1 billion in costs, improving its financial position compared to competitors like General Motors [6] - Ford has extended incentives for electric vehicles (EVs) and is offering affordable loans to individuals with subprime credit to boost sales [7][8] Market Position - Ford scores well on Momentum and Value metrics, with satisfactory Growth and Quality ratings, indicating a favorable price trend in the short, medium, and long term [9]