Ford of Europe has reported a big rise in quarterly profits, despite a steady decline in sales during the same period.
The division made a second-quarter pre-tax operating profit of $322 million (£209.5 million), up from $57 million (£37 million) during the same period last year. The result is well above the $107 million (£69.6 million) profit the European unit made in the first quarter.
However, Ford of Europe's sales fell for the third-consecutive month in June, down 8.3 per cent to 118,800 units.
The increase against 2009 has come from greater market stability; Ford of Europe said it had spent much less rescuing suppliers this year. In 2009, car makers were forced to bailout or, in some cases, buy suppliers to ensure that parts deliveries would not be interrupted.
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Re: Ford's European profits soar
This isn't what European and UK sales figures are showing. Ford's share in Europe is dropping and its still seen as a sales reps vehichle. Below VW and no where near Audi or BMW. A different story in the US where sales are up and its image is good because unlike GM and Chrysler it didn't go into insolvency.
Re: Ford's European profits soar
I think Ford like many others sell well because their cars drive well but when it comes to the i want one factor they fall short.Mondeo and Focus extremely bland
Re: Ford's European profits soar
I have to be honest when Ford first said they were going after the premium sector rather than concentrating on old rivals GM i thought they were crazy!
I think they called it a 10 year plan at the time?
But its worked, i think that in many peoples eyes the Focus is comparable to the Golf and the Fiesta probably beats the Polo hands down.
The Mondeo, Kuga etc is bought by 3 series and A4 drivers not vectra or insgina.
Speaking to freinds at Ford dealers they are awash with prestige part exchanges
Ford deserve big respect for this, i cant think of another car company that has changed its fortunes with such dramatic effect.
so now they just have to keep it going...............