Report: Ford Loses $1 billion a Year On Counterfeit Auto Parts

Ford’s global brand protection manager, Joe Wiegand, said that the company is losing around $1 billion nnually from counterfeit auto parts. According to study by the U.S. Chamber of Commerce,  Counterfeiting has health and safety ramifications and few means of effective remediation. Counterfeit  parts hurt companies like Ford by depriving them of revenue from genuine parts.

Source: Reuters