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Ford Motors (NYSE:F) announced Tuesday that it will be bringing its EcoSport compact crossover to Europe, in order to better compete in a growing market segment and to boost sales in a region that has seen some severe economic conditions and falling auto sales.
The EcoSport will be manufactured at Ford’s plant in Chennai, India, and is bound to make its European debut later this year. Ford is expanding its SUV lineup and aims to sell 1 million SUVs in Europe by 2017, according to Reuters. Despite sliding sales, Ford intends to begin making a recovery this year, but progress will be slow. Ford has pledged to introduce 15 new global vehicles to Europe by 2015 to help speed things along.
This initiative sits against the backdrop of a European car market that has experienced steadily declining sales for years. Ford has already lost billions of dollars in the region, and the middle-of-the-decade timeline for new vehicle launches corresponds with estimates for a turnaround in the region’s market…
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