NATION : Ford Program Cuts Platinum Price

Ford Motor Co.’s announcement of a pilot program that may eliminate platinum in auto pollution control devices sent the metal’s price tumbling in early U.S. futures trading today.

But the No. 2 auto maker would say little about what will replace the expensive platinum in its catalytic converters or whether consumers will see any of the cost savings. Ford Chairman Donald E. Petersen told the Pittsburgh High Technology Council on Wednesday that the auto maker is installing the new converter on some 1989 cars. But a spokesman today declined to reveal any details about the new device or to say how much of the savings would be passed on to the consumer.