Ford orders price cuts of 3.5%

Sherefkin, Robert
November 2003
Automotive News;11/17/2003, Vol. 78 Issue 6067, p3
Trade Publication
Automobile manufacturer Ford Motor Co. has ordered its suppliers to cut prices by 3.5 percent by January 01, 2004 and has warned them to expect broader price cuts in 2004. The proposed 3.5 percent reduction is designed to ensure that the company maintains momentum in their drive to achieve competitive costs. The price cuts are the latest permutation of Ford's cost-cutting campaign launched in 2002. The cuts are part of a larger program to cut purchasing costs by $3 billion by mid-decade. Ford has defended its move with suppliers as less egregious than price cuts ordered by other automakers. Ford is targeting all suppliers whose prices exceed a global benchmark price determined by Ford.


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