spending cuts hurt ford\s european sales
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Spending cuts hurt Ford's European sales

Arab Today, arab today

Arab Today, arab today Spending cuts hurt Ford's European sales

London - Arabstoday

Concern about European government spending cuts hurt car demand in the second quarter, adding to uncertainty over the recovery of the region's auto market, said Stephen Odell, the head of Ford Motor Co.'s European operations. "The second quarter's been a bit more difficult as we start to see austerity measures kicking in and concerns about sovereign debt," Odell said in an interview in London. "It's pretty difficult to predict where the industry is going to go." Ford, which has its Eur-opean headquarters in Germany, projects that industry-wide sales in the region will range between 14.5 million and 15.5 million vehicles this year. Sales in 2010 totalled 13.8 million, according to data from the European Automobile Manufacturers' Association. Ford expects to offset the industry weakness in part with new products and should benefit from "full availability" of the C-Max minivan and Focus compact, Odell said. Article continues below Ford plans to beef up its factories in the UK, investing £1.5 billion (Dh8.81 billion) over the next five years, Odell said at the event. Ford itsalf will provide more than half of the funds, with EU grants and a £340 million guarantee from the UK making up the balance. Ford also plans to create "several hundred" jobs in Europe this year. Ford's market share in Europe through May slipped to eight per cent from 8.6 per cent, dropping it below General Motors Co., which garnered 8.6 per cent of car sales in the region, according to data from the regional trade group. Meanwhile, Ford confirmed plans to ship its Ranger pick-up to 148 countries from South Africa under a $500 million export programme. Ford over the past two years has expanded its assembly plant in Pretoria to an annual production capacity of 110,000 vehicles. Last year, it sold about 48,000 vehicles from its South African operations into southern Africa.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

spending cuts hurt ford\s european sales spending cuts hurt ford\s european sales

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

spending cuts hurt ford\s european sales spending cuts hurt ford\s european sales

 



GMT 05:57 2017 Tuesday ,29 August

Indonesia explores new, alternative tourism markets

GMT 12:19 2016 Thursday ,08 December

Kirk Douglas at 100, still in love

GMT 17:27 2017 Thursday ,05 October

Major Bowie exhibition to close in New York

GMT 00:13 2016 Friday ,10 June

After 11-month peak, oil prices take a breather

GMT 05:31 2017 Sunday ,05 November

Mexico makes 'major' 1.5-bn barrel oil find

GMT 04:11 2017 Thursday ,20 April

And the world’s ‘most beautiful woman’ is

GMT 11:40 2017 Thursday ,27 April

UN eyes new Yemen talks by end of May

GMT 05:19 2016 Saturday ,31 December

UAE tightens security for New Year celebrations

GMT 18:27 2017 Wednesday ,15 February

India should give Kashmiris right to self-determination

GMT 04:26 2017 Saturday ,26 August

Hany refuses $30000 offer to sing in Damascus

GMT 12:52 2017 Monday ,06 March

Air pollution linked to 600,000 deaths

GMT 01:14 2017 Friday ,17 November

Yemeni official says diabetics increased in Yemen
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday