The Dearborn-based automaker Friday reported sales in its traditional 19 European markets increased 1.7 percent in October to 90,300 units, marking the fifth-consecutive month of year-over-year sales gains.
DEARBORN, MI- Ford Motor Co. continues to show some signs of a turnaround in Europe.
The Dearborn-based automaker Friday reported sales in its traditional 19 European markets increased 1.7 percent in October to 90,300 units, marking the fifth-consecutive month of year-over-year sales gains.
“Thanks to the strength of our products, the quality of our sales – more sales to retail and fleet customers, reduced sales to rental companies and fewer dealer self-registrations – continues to be better than industry average,” said Roelant de Waard, vice president, Marketing, Sales and Service, Ford of Europe, in a statement.
Ford has sold 915,000 vehicles in the industry’s 19 traditional markets this year, and its total market share is 7.9 percent, unchanged from the same period last year. Across its total 51 European markets, Ford sold 110,200 vehicles in October and 1.13 million year-to-date.
Despite the financial turmoil in Europe, Waard said Ford expects to continue its European turnaround with at least 25 new or refreshed vehicles within five years, including 15 by mid-decade.
The steady signs of a recovery come more than a year after Ford announced the product overhaul and plans to close three plants – two in UK and one in Belgium – and cut thousands of hourly and salaried employees.
Ford, when announcing the closings, expected to reduce vehicle capacity by 18 percent or 355,000 units and lower gross annual savings between $450 million to $500 million.
Ford was one of the first automakers to announce an overhaul of its European operations, as the region goes through its worst economic crisis in years and the auto industry experiences its lowest volume in 20 years.