Ford chairman and chief executive Bill Ford s sees no end to Detroit’s price wars soon, according to a Reuters report.
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According to Reuters, Ford said that incentives spending by Detroit’s ‘Big Three’ vehicle makers on incentives – including cash rebates and interest-free loans – might ease up a bit but the profit-eroding measures were an irrevocable part of doing business in an ever more competitive industry.
“It will get ratcheted down. It won’t get turned off,” Ford told reporters after addressing an automotive seminar ahead of Thursday’s opening of the Paris motor show, Reuters said.
“We’re not going to wake up some day and incentives are all going to be gone,” Ford added, according to Reuters. “I think some of us would love that day but the customers wouldn’t so therefore, we’re not going to do it”.
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