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.
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.”