Ford Motor Company (NYSE:F) claims that it recorded increasing sales in Europe, with a 16% rise amid the financial crisis taking place in Greece.
The company reported that the increasing sales are attributable to the new vehicle models, particularly the Mondeo which is doing exceptionally good in the European automotive market. This is an interesting turn of events for the firm since it has been having trouble trying to make satisfactory sales in the region. Ford has been registering huge losses in Europe despite other regions performing well.
In June, the company managed to sell 126,800 vehicles in 20 European markets. The company’s overall sales for the region in the past six months amounted to 668,800 vehicles. The recent performance marks an 11% increase while the overall industry had a 9% increase. Apart from the new Mondeo Fusion, a few other models such as the Kuga (Escape) and the EcoSport small crossover contributed to the increased sales.
The automobile manufacturer expects the sales to maintain an upward trend. Part of their strategy to keep things going their way include more sales for the Galaxy, Mondeo Vignale, C-Max, S-MAX, and the popular Ford Mustang. The company plans to make them available in dealerships this summer according to Roelant de Waard, Ford’s VP for sales, marketing, and services for the European division.
De Waard also claimed that the improving performance comes at an opportune time because the company is working on opening new flagship dealership stores in numerous cities all over Europe. The plan is to offer a better experience to the customers, to boost their satisfaction. The company currently has more than 100 stores and showrooms and plans to open 100 more by the beginning of next year. The overall target is to achieve 500 stores by the end of 2016.
Ford Motor Company (NYSE:F)’s CEO Mark Fields expects the company to make profits in 2016 rather than the incredible losses that have been ensuing the company. Last year, the losses amounted to $ billion.
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