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Posts Tagged ‘Ford Europe’

Ford Mustang Top Seller in Germany

Pony car leads the sports car herd as maker’s European sales rebound.

by on Apr.08, 2016

Ford's plans to make the Mustang a global seller are working in Germany as it was the top selling sports coupe there in March.

The home of the Nurburging has fallen in love with the latest edition of the Ford Mustang. It was Germany’s top-selling sports coupe last month.

Ford sold 780 Mustangs in Germany in March outpacing what most people would likely assume to be the leader the Porsche 911 at 752 units and the Audi TT at 708 cars.

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“Germans have fallen in love with the Mustang. Driving a Mustang GT on the Autobahn is a one of a kind experience for people who love cars,” said Wolfgang Kopplin, managing director, Ford Germany. (more…)

Ford Expects Continued Growth, Profits in Europe

Europe boss Farley lays out plans for future.

by on Feb.03, 2016

Ford of Europe President Jim Farley said the company expects the division to be profitable again in 2016.

Once is not enough when it comes to Ford being profitable in Europe and the company is taking steps, including projected job cuts.

Executive Vice President Jim Farley, formerly the automaker’s marketing guru, told the media yesterday that the automaker’s profit in 2015 will be repeated again this year and beyond.

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“Our plan’s about creating a vibrant and sustainable business,” said Farley, head of Ford’s Europe, Middle East and Africa regions, said in an interview. “Making $259 million in Europe last year was nice, but we’re just getting started.” (more…)

Ford Finds Way to Boost Bottom Line by $1.5 Billion

Ford Europe now shows black ink after a decade in the red.

by on Jan.07, 2016

Ford's earnings may look better but its stock prices continues to slide.

In a move that will give the company’s bottom line an immediate, $1.5 billion boost, Ford Motor Company is changing its method for reporting pension and other post-retirement employee benefits.

The change will provide a clearer view of Ford’s operating performance and segment results, according to Bob Shanks, the maker’s chief financial officer. In addition, Ford’s 2015 pre-tax profit, excluding special items, is now expected to increase to somewhere between $10 billion and $11 billion when the company issues its yearly financial statement late this month.

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Ford retrospectively applied this change and revised prior quarterly results. For the first nine months of 2015, the maker now says it made $8.2 billion, compared to the originally reported $7 billion in net earnings. The changes were felt in a number of regions, perhaps most significantly in Europe which has been struggling to get back into the black for a decade. Instead of another loss for the first three quarters, Ford now says it earned $128 million there.

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Ford Motor Co. Sets Records, Beats Earnings Forecasts

Few clouds on the immediate horizon.

by on Jul.28, 2015

Ford hopes to drive revenues even higher with the new Limited version of its F-150 pickup.

Just about any way you look at it, the second quarter was a good one for Ford Motor Co., the second-largest domestic automaker not only handily beating Wall Street analysts’ forecasts but delivering record numbers in North America and Asia/Pacific.

Even Europe came close to breaking even after years of heavy losses, noted Ford President and CEO Mark Fields. All told, the maker delivered net income of $1.9 billion per share, a 44% or $544 million year-over-year rise. On a per-share basis, Ford made 47 cents. That was up seven cents per share compared to the second-quarter of 2014 – and 10 cents more than the Wall Street consensus forecast.

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“We delivered an outstanding second quarter, a great first half of 2015, and we are confident the second half of the year will be even stronger,” declared Fields in a prepared statement accompanying the earnings report. “The entire Ford team is focused on accelerating our One Ford plan, delivering product excellence and driving innovation in every part of our business.”

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Ford Facing the “Squeeze” in Europe

But new President Jim Farley still sees reason to be upbeat.

by on Mar.10, 2015

Ford of Europe Pres. Jim Farley during the Geneva unveiling of the maker's new Focus RS.

Ford Motor Co. may finally be turning the corner after years of losses in its European operations. But while things are generally moving in the right direction, Ford’s new European President Jim Farley warns that the carmaker is facing what he calls the big “squeeze.”

The Detroit maker, like crosstown rival General Motors, has been struggling for years to turn things around in Europe. Though it had hoped to approach breakeven last year, Ford still posted a $433 million European loss during the final quarter of 2014, and $1.1 billion for the full year.

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It remains to be seen if it can meet its target this year. But there’s clear momentum, stressed Farley, during an interview in Geneva. “We’re going to make progress, despite the headwinds, in our financials.”

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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 Posts $1.3 Billion Profit in 2Q

Strong North American sales bolsters quarterly results.

by on Jul.24, 2014

Ford reported net income of $1.3 billion for the second quarter this year. Much of that came from strong results in North America.

Ford Motor Co. posted net income of $1.3 billion in the second quarter due in large measure to strong results in North America. Additionally, the company turned a profit in Europe for the first time in three year and Asia Pacific sales remained strong.

However, South America continues to be a drag on the company’s results. Ford Chief Executive Officer Mark Fields said the company had a very good second quarter and the company was looking forward to a series of major launches not only in North America but also in Europe.

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“To put in perspective, we are in a growth mode,” Fields said during a conference call with reporters and analysts. (more…)

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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Ford Moves Up-Market With New Vignale

Free car washes for life?

by on Sep.12, 2013

Ford's new Mondeo Vignale makes its Frankfurt debut.

With the European market showing tenuous signs of revival after plunging into its worst downturn in decades, Ford Motor Co. is prepping a major product offensive that includes a push into more up-market segments it abandoned with the sell-off of its former Jaguar, Land Rover, Aston Martin and Volvo brands.

Ford is leaving room for the eventual European launch of its North American luxury brand Lincoln, until then the maker is betting its new Vignale brand-within-a-brand can attract the sort of demanding buyers who might otherwise migrate to other high-line marques – and that it can deliver better sales while earning higher margins, in the process.

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While Vignale is still a work in progress, Ford pulled the wraps off the first model to carry the new name during this week’s Frankfurt Motor Show. The Ford Mondeo Vignale is a fancier version of the maker’s midsize model line – which is sold in the U.S. as the Ford Fusion – and slots above the current Mondeo Titanium model. (more…)

European Market Showing Signs of Life, Ford Plans Big Model Blitz

Maker promises to roll out 25 new vehicles in five-year frenzy.

by on Sep.10, 2013

Ford of Europe Stephen Odell is seeing some light at the end of Europe's long tunnel.

While it’s far too early to predict that the struggling European car market is finally back in gear, there are growing signs that the worst is over, suggests Stephen Odell, the CEO of Ford European operations.  With the maker now confident it will be back in the black by 2015, that’s encouraging Ford to prepare for the inevitable revival with a blitz of new products.

Ford had previously announced plans to roll out 15 all-new or completely redesigned models during a five-year period starting in mid-2012.  But over a dinner prior to the start of the Frankfurt Motor Show, Odell says Ford has upped that to 25 new products during the same timeframe.

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“We are at the bottom,” the executive says. And while he cautions, “There are no major signs of uptick,” he insists, “it does feel like we’re running along the bottom.”

Ordinarily, that might not seem like a very positive assessment, but consider that European sales have been tumbling by at least 500,000 annually in recent years, the numbers from the first part of 2013 dipping to two-decade lows. That forced Ford to take a number of critical steps, including the planned closure of its big assembly plant in Genk, Belgium and two smaller facilities in the U.K.

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