In an attempt to exit its problems in Europe, Ford of Europe’s head of product development, Barb Samardzich, has revealed the automaker will launch 25 new or refreshed models in Europe within five years.
Ford just disclosed in its earnings release they are facing a serious financial situation, as it expects to lose $2 billion on its European operations in 2013, on top of a $1.75 billion loss for 2012. That means Ford will lose close to $4 billion in Europe in two years’ time.
In an attempt to thwart the problems, Ford of Europe is adopting a tactic that Ford Motor Co. used during the 2008-09 recession in the United States: it will bulk up its lineup as it awaits the European car market’s recovery, as Ford wants to be prepared to gain share in a healthy Europe.
“It’s the same exact strategy as in North America: to make sure that our portfolio was the best ever when the economy turned around,” said Samardzich, who has been named Ford of Europe chief operating officer effective Nov. 1.
Ford of Europe President Stephen Odell says Ford has upped its plans for portfolio expansion from 15 in 2012 to 25 now.
The 25 will be lineup additions or new generations of vehicles, but will not be variants. Samardzich said the process is made simpler by the automaker’s One Ford drive for uniform platforms and powertrains globally.
Via Automotive News