Ford Castrates $200M of Ad Spend

Marketing budget not quite 'built to last' 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 US, one of Ford's new model launches can easily hit $100 million, reports Advertising Age. The company continues to fare well outside the US. Corporate executive VP and President 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. By 2013, Ford North America expects to share 100 percent of its models with Ford Europe — a profit-culling scheme the company... [read full story]