PARIS -- Ford of Europe will trim its losses to between $100 million and $200 million this year, Chairman Lewis Booth said at the Paris auto show.
Last year Ford of Europe had record losses of $1.1 billion.
Booth said he is confident the company can keep its recovery going during the next five years.
That means looking for further cuts in purchasing costs through Ford's Team Value Management program, de-signed to get Ford and its suppliers to cooperate on finding ways to save money.
Booth said the high price of steel is the single biggest problem Ford and other carmakers face. "The customer isn't prepared to pay more for cars," he said. "So we have to look for new savings."