UPDATE 1-Automakers press suppliers for lower prices

Newswire

(Recasts, adds General Motors' supplier pricing goals, Chrysler comment, byline) By Susan Kelly CHICAGO, Nov 18 (Reuters) - U.S. automakers, which are engaged in a profit-eroding price war and losing market share to foreign rivals, are stepping up the pressure on their parts suppliers to reduce costs. Ford Motor Co. , aiming to return its auto business to profitability, has asked its suppliers to shave another 3.5 percent off the price of components, beginning Jan. 1, a Ford spokesman ...

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