Ford Cashes In on Strengthening European Auto Market
Ford (NYSE:F) has pledged to return its European division back to profitability in 2015, and the company appears to be making good on that promise. February held good tidings for Ford’s Europe wing, as it logged an 11.6 percent increase in sales, over the same month of last year.
It’s Ford’s ninth straight month of gains in the region, which has seen its fair share of troubles since the financial recession in 2008 and 2009. While the American market has made a robust comeback, the European market has been slower to recover, and automakers from around the world have lost billions of dollars in the region.
It was all-around smooth sailing for the Michigan-based company, which was able to increase its total market share, retail market share, and commercial vehicle market share all simultaneously. “Our sales and share performance in February marked another step forward for Ford as we progress in our plan to return to profitability in Europe in 2015,” said Roelant de Waard, vice president of marketing, sales, and service for Ford of Europe, in the statement.
“We recently just started selling our all-new Transit two-tonne van and we just unveiled the new Focus, which goes on sale later this year. These are just two of the 10 new vehicles we will launch in Europe in 2014. It’s this constant new vehicle momentum that is driving our business in a positive direction.”