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Ford Shares Plunge on Bad News About Recalls, Europe

But maker insists it is “well-positioned for long-term.”

by on Sep.30, 2014

Ford CEO Mark Fields, shown with the 2015 Edge, insists the maker's long-term prospects are solid.

Investors took a dim view after being given an inside look at Ford Motor Co, the maker acknowledging that its European turnaround will be delayed, while it expects to run up big losses in South America, as well – with earnings taking taking another $500 million hit due to recent recalls.

Ford shares closed Monday at $15.11, down about 7.5% on nearly three times the normal volume on the New York Stock Exchange, investors having to balance the maker’s short-term problems against the more upbeat, long-term potential outlined by new Ford CEO mark Fields and his top management team.

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“Our long-term plan underscores the commitment we have to our One Ford plan, while accelerating our pace of progress, delivering product excellence and driving innovation in all areas of our business,” Fields said during a presentation to automotive analysts dubbed Ford 2020. “We remain completely focused on offering customers the freshest lineup of world-class vehicles to meet their needs.”

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Ford “On Track” for European Turnaround

Maker betting on product blitz, cost cuts to be in black by 2015.

by on Jul.09, 2014

Ford's European chief Stephen Odell.

With the European automotive market showing signs of an upturn after its worst slump in a quarter century, Ford Motor Co. is growing increasingly confident in the aggressive turnaround plan it launched during the depths of the downturn.

The maker’s sales have been outpacing the overall industry recovery, and while some automotive analysts believe Ford of Europe might actually break even for 2014 the maker is, for now, sticking with guidance promising to “improve” its financial situation this year, while projecting “profitability” in 2015. Ford lost $1.4 billion in Europe last year.

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The plan is “on track,” said Ford of Europe president Stephen Odell, during a media roundtable on Thursday. “We are very, very pleased with where we are in our European transformation plan.”

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