Ford Motor Co. has reiterated a forecast for a reduced loss in Europe in 2014 and a breakeven in 2015, as the carmaker sees indications of recovery. Vehicles sales in Europe have surged 6.3 percent through February 2014, after dropping to a two-decade low last year. Ford has been capturing share in Europe and in key markets like Germany, COO Mark Fields remarked at the New York Auto Show.
He said that the good news for Ford is that both the market and the carmaker’s performance in the first quarter were growing. Fields said that they are starting to see their turnaround plan be effective.
Field said in a speech officially opening the New York show that Lincoln MKZ mid-size sedan is “starting to resonate” with US consumers, adding that Ford hasn’t changed its recall practices in light of a callback crisis currently being experienced by General Motors over faulty ignition switches.
Fields is considered as the prime candidate to succeed Alan Mulally as Ford’s chief executive. Executive Chairman Bill Ford has said he has been discussing with Mulally on the importance of making a smooth transition to his successor.
Ford said on Bloomberg TV that final act of a “great CEO is having a great transition,” but declined to say if Fields would be the next top honcho at the carmaker. [source: automotive news - sub. required]