Ford Motor Co. said in an official statement that it keeps its positive projection for its performance in Europe by 2015, with improving results this year. The company has focused on putting an end to its losses on the territory of Europe and the fact is that it reported auto sales for the first half of the year that beat the broader industrys results.
The regional Chief of Ford Motor Co. in Europe – Mr. Stephen Odell commented in an interview with reporters that was cited by Bloomberg: “We are very, very pleased with where we are on our European transformation plan.” As reported by the Wall Street Journal, Mr. Odell also added: “Were very confident that Russia will be the largest industry in Europe eventually.”
According to the Ford Motor Co.s statement, its sales in Europe rose by 2% in June, and were 6.6% higher over the first half of 2014, from a year ago, outpacing the 6.3% industry growth. According to the President of the European unit of Ford Motor Co., the positive performance is considered a result of the beneficial influence of the companys new products that helped it gain a market share. Mr. Odell also explained that Spain and Italy have started to speed up its pace, which resulted in increasing new vehicles sales.
When it comes to vehicles sales, Europe has turned into an arena of fierce competition in 2014. Now the auto sales of the company in the region are rebounding from a two-decade low reported last year.
The announcement that Ford Motor Co. keeps its positive expectations for its European units performance by 2015 comes after the companys decision to recall 100 610 vehicles in North America due to some defects. One of the official representatives of the company explained that there havent been any defect-related injuries, crashes or death cases registered.
Ford Motor Co. was 1.87% up to close at 17.43 dollars per share yesterday, marking a one-year change of +3.50%. According to the information published on CNN Money, the 15 analysts offering 12-month price forecasts for Ford Motor Co have a median target of 19.00, with a high estimate of 23.00 and a low estimate of 12.00. The median estimate represents a +9.01% increase from the last price of 17.43.
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