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Ford CEO Predicts Profits for Europe

Fields disagrees with Wall Street analysts about maker's strengths.

by on Jan.14, 2016

Ford CEO Mark Fields told the Automotive News World Congress that the company's European operations will be profitable this year.

After five consecutive years of losses, Ford Motor Co. expects to turn a profit in Europe, Ford chief executive officer Mark Fields said.

“We are going to be profitable in Europe in 2016,” he said. “We are not pulling out of Russia. We think when the economy comes back, Russia will be a good market for us.”

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Fields told the Automotive News World Congress that Ford was making steady progress towards key goals of steady growth and profitability despite losing marketshare in North America. “The economic conditions in the U.S. are going to be very favorable (in 2016),” the Ford CEO said. “Interest rates are low, Energy costs are low.” (more…)