Ford’s current strategy is to focus on its luxury brands. Now it owns Aston Martin and Volvo and has hired BMW guru Wolfgang Reitzle to run the duo though its new Premier Automotive Group (PAG), which brings together Aston Mar- tin and Volvo with the American premium brand Lincoln. Since the mid-1990s, Ford Motor has plowed much of its bountiful profits from sports utility vehicles (SUVs) and trucks into a heady expansion of e-commerce ventures and luxury car brands. As a result, little attention has been paid to the development of mass-market cars and trucks. Ford still does not have the financial resources to implement a regional strategy as GM has done. Ford’s global business lost US$5.4 billion in 2001. Consequently, the world’s second largest car- maker is restructuring. Five plants are to be closed around the world, while four models, including the Escort, will be discon- tinued. In Latin America, a recent automotive trade accord between Brazil and Mexico is fostering integration between Ford’s two main industrial bases in Latin America. Meanwhile, the company’s operations in Argentina and Brazil—which were becoming an integrated business—are coming apart.