Ford Motor Co. reports that its European vehicle sales have dropped by 12.3 percent in July 2012 and continues to have weak response in the market.
Ford Motor has sold 83, 100 vehicles in total nineteen European traditional markets last month which is 12.3 percent low if compared with the last year’s sales on the same month. This results in a total sale of 700, 200 vehicles which is low by 10.6 percent as compared to the same month in 2011. Ford reports, as per industry comparison, the sales have been dropped by 7.6 percent to 1.08 million on July and down by 7.1 percent to 8.75 million throughout the year.
The sales of Ford vehicles have dropped by 9.8 percent in all 51 European markets. One reason that dropped the sales of Ford vehicles is the continued concerns over sovereign debt crisis in Europe and increasing unemployment. Ford Europe’s vice president of marketing, sales and service Roelant de Waard has said that overall industry sales remain very weak across much of Europe given the economic environment. He further added that the pricing environment continues to be very aggressive, so it’s very important to have a strong lineup of fresh and innovative cars and commercial vehicles that really resonate with customers.
As far as the market share is concerned, Ford shares drop 0.4 percent points to 7.7 percent in 19 traditional European markets in July.