Ford expects European production to hike 6% this quarter

Article by Anita Panait, on April 28, 2013

Ford Motor Co. expects its production in Europe to increase 6 percent year-on-year in the second quarter of 2013 to 390,000 units. The carmaker built around 386,000 vehicles in the first quarter of 2013, around 8 percent lower than that of the same period in 2012. Ford also expects its production in North America to continue to surge, climbing 9 percent year-on-year to 800,000 units.

The carmaker’s North American production grew 16 percent year-on-year in the first three months of 2013 to 784,000 units. Ford’s forecasts came as it released its results for the first quarter of the year. According to the carmaker, its record North American pretax profits drove it to post $1.61 billion in first-quarter global net profit, reflecting a 15-percent rise over the same period in 2012.

The carmaker’s first-quarter revenues also went up 10 percent. The surge in its North American profits reflects the carmaker’s efforts over the last year to increase its capacity by 400,000 units to its plants in the region, mainly through additional shifts.

However, Ford’s move to increase output in Europe drew questions from analysts during a conference call with senior Ford executives – as the vehicle market in region continues to shrink every month. European automakers association ACEA said car sales in the region dropped 10 percent in March 2013 for the 18th straight dive. Vehicle sales in Germany, particularly, slid 17 percent in the month, the worst among the five largest European markets.

Ford executives defended the plan to increase production in Europe. Ford chief financial officer Bob Shanks said that dealer stocks “are in great shape" in Europe, which is in the "low-40 days supply range.” Ford of Europe chief executive Stephen Odell remarked that after months of cutting dealer inventory, they are now “getting dealers pressing” for more units. He noted that Ford added 8,000 units of Kuga production to the schedule "because dealers want to sell more.”

Topics: ford, europe, production

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

More positive news has been pouring in before the year ends. For those who have been waiting to hear the latest word on Toyota 86, we have some great news....
by - December 10, 2016
Hyundai is making the green vehicle race more competitive by offering three powertrain types -- pure electric (EV), hybrid (EV plus combustion engine) and plug-in hybrid (PHEV) – in one...
by - December 9, 2016
Although specs for the new Renault Megane had already surfaced several weeks ago, we didn’t know that the company has cooked up something new. Aside from the 200hp gasoline, Renault‘s...
by - December 9, 2016
For the first time in fifty-eight years, Infiniti registers its first US-Spec Q60 Coupe in Cuba. American products have not been allowed entry into Cuba for six decades. But it...
by - December 9, 2016
Chevrolet has already given out the pricing for some of its 2018 Equinox models. Not only will the new Equinox be available in both the US and Canada, it is...
by - December 9, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries