Ford Increases European Production Target
Ford’s production is scheduled to reach 460,300 units, a figure that can be translated into a 4.6 percent growth as compared to the initial target. Thus, Ford’s will produce 117,000 more vehicles than it did last year.
However, the automaker says that its prediction, according to which their European sales will see a 15 percent drop, a figure presented in the company’s initial sales forecast, still stays in effect. According to the carmaker, the negative turn of the market is due to Greece’s complicated financial situation.
“There’s much more pressure in the market than there was even last year,” John Fleming, CEO of Ford of Europe was quoted as saying by the aforementioned source. “Nobody really wants to lose a significant amount of volume, and there’s absolutely been no capacity shaken out of the market.”
European Union passenger car registrations saw a 13 percent increase in January, driven by the a growth on the French, Italian and U.K. markets.
A part of the increase seen on many European automotive markets has been supported by multiple national vehicle scrappage schemes. However, many of these have now reached the final phase and will not be continued, leaving automotive producers to fight the global financial crisis on their own.