(Reuters) -Ford Motor Co can save as much as $2.5 billion this 12 months by means of higher administration of manufacturing schedules and because of a drop in commodity costs, Chief Monetary Officer John Lawler mentioned on Wednesday.

The Detroit automaker, nonetheless, will take years to shut the associated fee drawback of $7 billion to $8 billion it has with its opponents, mentioned Lawler, who was talking on the Wolfe International Auto convention.

The automaker posted dismal quarterly outcomes earlier this month and blamed chip shortages, provide chain disruptions and manufacturing “instabilities” for including to its prices.

Lawler has mentioned Ford faces $5 billion in larger prices this 12 months and that the corporate can be “very aggressive” in lowering bills in its manufacturing and provide chain operations.