Ford to Cut Vehicle Prices in Russia
February 01 2015 - 12:21PM
Dow Jones News
By Chase Gummer
BERLIN--Ford Motor Co. says it will be "aggressively lowering
prices" in Russia this year, as the American car maker contends
with persistent losses in Europe and a rising dollar.
Chief Financial Officer Bob Shanks told German daily
Handelsblatt his company wants to keep pace with Asian
competitors.
Japanese makers are taking advantage of a weak yen and the
Koreans "want to keep up," Mr. Shanks said in the interview.
While the executive ruled out the prospect of Ford leaving the
Russian market, he said he would "aggressively adjust our prices"
in order to compete.
Ford has introduced cost-saving measures in Russia in recent
weeks, including letting go of staff and announcing plans to
temporarily idle factories there in the spring.
Write to Chase Gummer at chase.gummer@wsj.com
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