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Investing.com-- Ford Motor (NYSE:F) plans to offer discounts across several models from Thursday, Reuters reported, as it capitalizes on its high inventory levels to sell cars and undercut rivals who will have to raise prices to absorb the impact of higher trade tariffs.
Ford will offer its employee pricing- a discounted rate for Ford workers- to all customers, the Reuters report said, citing three sources with knowledge of the matter. The program will be called the “From America for America” plan.
The Reuters report comes just hours after U.S. President Donald Trump imposed sweeping universal and reciprocal trade tariffs, and said that his 25% duty on automobiles will also take effect soon.
Ford is relatively shielded from the auto duty, with the automaker claiming that it produces about 80% of all its vehicles domestically. But Ford will still have some exposure to the tariffs, given that it imports several components of its vehicles from abroad.
Shares of the automaker fell 1.6% in aftermarket trading, logging smaller losses than several of its peers.