Ford Motor Co. logged a 9.8-percent jump in January vehicle sales in its core 20 European markets to 88,700 units in January, boosted by strong demand for the latest Mondeo midsize car, its compact and subcompact SUVs and the Fiesta subcompact. Ford said in a statement that its market share in the region hiked 0.2 percentage points to 7.7 percent.
According to Roelant de Waard, Ford of Europe's sales and marketing chief, the market share surge came as the carmaker posted more retail sales. The carmaker said that sales in higher margin channels – like private retail and fleet customers – generated 77 percent of its passenger car sales in the month.
The American carmaker disclosed that its Kuga compact SUV posted its best sales month in January since it was introduced in 2008 launch while the EcoSport subcompact SUV had its highest monthly sales since its rollout mid-2014.
On the other hand, sales of the Mondeo midsize car jumped 29 percent year-on-year in January, with order take leaping 60 percent as Ford rolls out the new generation to its dealerships in Europe.
Ford has been operating in Europe through its Ford of Europe subsidiary that is headquartered in Cologne, Germany. Ford of Europe was established in Cork, Ireland in 1967 through the merger of the British, German and Irish divisions of the Ford Motor Company. The front-engined Ford Transit range of panel vans was considered the first formal co-operation between Ford Motor and Ford Europe – replacing the Ford Taunus Transit and the Ford Thames 400E.
In an attempt by the carmaker to stem its losses in Europe due to a declining market, Ford announced the closure of three of its plants in Europe. These include two sites in the UK -- Southampton facility and the Dagenham site -- in mid-2013, and another in Belgium Genk by the end of 2014.
Headquartered in Dearborn, Michigan, Ford Motor Co. is an American multinational carmaker established by Henry Ford on June 16, 1903. It was incorporated by 12 investors, who owned a total of 1,000 shares. At the time, Ford, only 39 years of age, owned around a quarter of the company.
Ford manufactures and sells passenger and commercial vehicles under the Ford brand as well as luxury vehicles under the Lincoln brand. Ford is considered as the second-largest carmaker in the United States and one of the largest in the world.
When the automotive industry crisis emerged in 2008, Ford was one of the companies severely hit. In 2008, Ford posted $14.7 billion in losses. Nonetheless, while General Motors and Chrysler filed for Chapter 11 bankruptcy protection in 2009, Ford still managed to post around $2.7 billion in profit that year.