Ford of Europe President Stephen Odell thinks the core region still has weak and feeble economies that hide underlying threats to the slow and rather painful recovery registered across many markets.
With the exception of a few bright spots that shined for many months without any glitch – like Great Britain or Spain – other countries in the region offered mixed results for the automakers since last year’s slow start back to positive outcomes. Ford of Europe shared all the ups and downs in the important markets – like Germany or France.
“You know there’s another economic shock out there somewhere, and clearly Europe has not recovered as an economy as fast as other parts of the world,” he said. “There’s still much debate on how to address the unemployment situation. The longer that debate goes on and actions aren’t taken, the closer you get to the next downturn.”
While many automakers still struggle with increased overcapacity, Ford decided to implement a page from the US text book, closing down three factories and also slowing its annual production by around 350,000 vehicles. The maker is also ready to start its huge product offensive – with no less than 25 new or refreshed models coming in the next five years. Some of them are entirely new to the region – like the Edge crossover or the iconic Mustang sports car.
Via Automotive News Europe