Ford Hacks $200M of Ad Spend

Having just reported a global net loss of $8.7 billion in Q2, Ford cut its $300 million global auto marketing budget down to $100 million. The cut includes advertising and sales promotion, minus incentives, across all Ford brands. In the U.S., one of Ford’s new model launches can easily hit $100 million. The company continues to fare well outside the U.S. Corporate executive vp and pres of Ford in the Americas said the company would buttress losses by adding six small cars from its European lineup to the American market. Its hybrid vehicle line will also expand from two to four models, with hybrid production expected to double in ‘09, reports Advertising Age (via MarketingVOX). By 2013, Ford North America expects to share 100 percent of its models with Ford Europe — a profit-culling scheme the company dubbed “One Ford.” Just... [read full story]