Fields says rivals call the shots on spiffs; Premier Automotive Group chief calls profit in 2003 possible despite early losses.(Ford Motor Company CEO, Mark Fields reports.)

Automotive News, June, 2003

Byline: Bradford Wernle

Ford Motor Co.'s Premier Automotive Group is spending more on incentives because larger competitors such as BMW and Mercedes-Benz are dictating the market, according to CEO Mark Fields.

"Our incentive levels are being driven by our larger competitors,'' Fields told reporters at the Automotive News Europe Congress last week. "We're not driving the market.''

Competition in the luxury sector has become brutal, and incentives are greater this year than last year, he said, without providing details.

U.S.-market incentives remain higher than in Europe and are concentrated at the lower end of the market where cars such as the Volvo S60 compete, he said.

PAG will maintain a cautious approach and not spend...

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