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Ford pushes upmarket in Europe

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Ford pushes upmarket in Europe

Aiming to stop losses for its European unit side of the business, Ford has decided that the premium segment could get some competition from its products, in search of higher earnings margins.

The US company has decided to chase down the buyers with a higher income, offering on sale more high-end versions of the mass-market line-up, but the situation is also mirrored at many of its European rivals.

The European executives though seem confident that the new “brand” name, Vignale, that offers models upgraded with premium leather interiors, more chrome, technology and better customer sales and service, can attract buyers – who would be willing to pay the extra “buck”.

In Europe, which is just now coming out of it’s worst economic crisis in the last two decades, the fiercely competitive automotive market has left many automakers chasing new opportunities, with Ford losing money in the region since 2010.

If we take a look back through history, this is not the first attempt from Ford to make it through the higher ranks, as the No. 2 US automaker owned premium European makers like Jaguar and Volvo – but later dumped them to cut losses. Now, the company is focusing on the namesake brand, chasing big money customers as it introduces in the region by 2017 no less than 25 new or restyled models.

Via Reuters

by Aurel Niculescu (my Google+) - Monday, May 26th, 2014 - filed under Ford, Industry, News. Image credit: .
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