Ford Falls on Outlook for Increased Pressure on Vehicle Prices
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Ford Motor Co., the second-largest U.S. automaker, fell in New York trading after saying it may benefit less from higher vehicle prices and face higher costs in the second half.
Automakers may spend more on incentives as they boost inventories that were depleted by the March tsunami in Japan, Ford Chief Financial Officer Lewis Booth said today. Higher prices for models such as the Fiesta subcompact boosted revenue by $1.1 billion in the second quarter.