Ford said on Thursday that its goal of flat net pricing for its Ford, Lincoln and Mercury brands in the United States this year was at risk due to higher consumer incentives, Reuters reported.
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Ford reported a slight increase in net prices for the first quarter, while its rivals reported lower prices due to escalating cash rebates and low-interest loans used to boost sales, Reuters said.
According to Reuters, in a quarterly filing with the US Securities and Exchange Commission, Ford said it expected incentives “to remain high for the balance of the second quarter and perhaps beyond,” putting its net pricing goal at risk. It also said it would speed up cost cutting efforts to mitigate any impact from lower prices.
