Ford Sees Strong Gains In Europe

July 11, 2014 12:00 PM

Ford Sees Strong Gains In Europe
" DEARBORN (WWJ) - A significant jump in first-half sales has Ford optimistic that its European turnaround is getting into gear.

“We are very, very pleased on where we are on the European transformation plan,” said Steven Odell, president Ford of Europe, Middle East and Africa.

Ford’s European sales rose 6.6 percent in the first half of the year, slightly outperforming the industry average. However, Odell says the company is selling a much richer mix of products, and selling with fewer discounts.

“The three core elements, which I’ve always said were equally important in measure–of products, brand and cost–are all delivering at, or in some cases, better than we thought it would do.”

Odell, meeting with reporters at Ford World Headquarters, says Ford remains on track to post a profit in Europe next year. We’ll learn more about the company’s European progress, when it releases its second quarter profit report on July 24th.

Costs have been cut, as Ford has already closed two plants, and is planning to close a third this year, saving the company $400 million, which Odell says will be used to support the recovery in Europe "

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