Visteon to Pay Employees to Buy Vehicles From Ford

Auto parts supplier Visteon Corp. said it would support its biggest customer and former parent by giving $1,000 to employees who buy vehicles from Ford Motor Co.

Visteon, based in Van Buren Township, Mich., is offering the bonus to 8,100 U.S. salaried employees if they buy a Ford, Lincoln, Mercury or Mazda vehicle, spokesman Jim Fisher said. The bonus applies to 2004 and 2005 models and ends Dec. 31.

“It’s a way to support our largest customer,” Fisher said. “It gives Visteon employees an opportunity to feel some extra pride.”

He said the offer, first reported in Monday’s Detroit News, did not apply to Volvo, Jaguar or Land Rover, Ford’s European luxury brands.

Visteon, which has not recorded a full-year profit since 2000, posted a $1.36-billion loss in the third quarter. Ford vehicles on average contain about $3,000 of Visteon parts; the automaker has accounted for 71% of Visteon’s sales this year.

Visteon shares fell 1 cent to $7.10 on the New York Stock Exchange.