Ford Denies Report of Doubling Ad Spending
DEARBORN, Mich. October 22, 2002 Reuters is reporting that Ford Motor Co. on Tuesday denied a report it planned to double advertising spending for its Ford division in the United States, quashing speculation that had boosted the shares of its ad agency.
Ford spokeswoman Susan Krusel said the automaker plans for a "slight increase" next year in its advertising for the Ford division, the automakers largest vehicle brand which includes the top-selling F-150 pickup truck and Taurus mid-size sedan.
"Certainly we're going to be aggressive next year in promoting our product but in no way is the increase going to be the doubling that was reported," she told Reuters.
Advertising Age reported on Tuesday that the Ford division planned to double its U.S. advertising spending next year to boost its U.S. market share.
Shares in British advertising giant WPP Group Plc, which owns Ford's advertising agency J. Walter Thompson, jumped following the Advertising Age report.
WPP shares were up 22 pence or about 5 percent at 459 pence in late afternoon trade in London.
Krusel said that Ford showed its dealers at meetings in Las Vegas earlier this month previews of the ads it plans to run soon.
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.
My next Ford.....