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Position: Auto Articles - [Auto News] - Ford speeding up price cutting
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Ford speeding up price cutting
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Mark Fields, Ford`s head in North and South America said in an interview that Ford may be force in speeding up its price cutting if a slowing United States economy puts the carmaker at the risk of missing crucial financial goals in the next two years. Fields said amid an unsafe housing market and a job increase, `there`s more risk than there is opportunity going forward`.
Fields added that Ford is on track on meeting the next year price-cutting goal and 2009 profitability target. Ford perhaps will slow production in the fourth quarter avoiding excess inventory – this has plagued Chrysler in the past.
Ford will complete the revamp in North America. Already has shut down a few of its plants and will drastically reduce the dealer network`s sizee. GM will also be cutting shifts at the pickup truck assembly factories.
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