We're pretty sure that any initial concerns Ford had about selling the redesigned Mustang in Europe have been lessened considerably, after the first 500 Euro-spec 2015 Mustangs were been reserved in just 30 seconds. Moreover, 9,300 people attempted to snag one of the coveted orders for the all-new muscle car. Yes, Mustang, you should do quite well across the pond.
As predicted, Ford has reported that its first quarter of 2013 was a resounding success overall, with a pretax profit of $2.1 billion ($0.41 per share), and a net income of $1.6 billion ($0.40 per share). In fact, Ford made a pretax profit of some $2.4 billion in its home North American market, with that total number being pulled down by losses in South America and Europe. That gaudy North American profit is the strongest result by the automaker since 2000.
Ford brought in $5.7 billion in net income during 2012, which is around $307 million less than one year prior. Even so, the automaker closed out 2012 with the highest pre-tax profit for a single quarter in nearly 10 years, earning $1.7 billion in the fourth quarter thanks largely to a higher-than-average truck mix in the US. That's a jump of $577 million over 2011. Likewise, that translated into fourth quarter income of $1.6 billion. All told, Ford set a full-year pre-tax profit record in 2012.
Automotive News Europe reports that Ford is set to close two more facilities in Europe as it braces for losses in excess of $1.5 billion in the region. The move will see Ford reduce its production capacity by around 355,000 vehicles and slash its workforce by 6,500 employees. The automaker says it will close both the Southhampton and Dagenham, UK facilities next year. Those plants will mark the second and third European closings for Ford, following the announcement that the manufacturer intends
The latest development in this ongoing saga that is the European economic crunch is word that Ford will shutter production of its Genk Assembly Plant in Belgium, eliminating some 4,300 positions. Ford could potentially reduce costs by $300 to $500 million annually as a resulting of closing the production facility. The Genk plant currently produces the Mondeo, S-MAX and Galaxy vehicles. Assembly of these vehicles would cease at the plant by the end of 2014.
Just weeks before the Paris Motor Show, Ford Motor Co. has taken the wraps off of much of its new lineup for Europe in an effort to shore up its efforts for European dealers. The webcast press conference from Amsterdam ended with the official announcement that the Dearborn, Michigan-based car maker will officially make the Mustang available for Autobahn runs and cobble stone street drifting.
Ford showed the world its all-new Mondeo in Amsterdam today, alerting Europeans that a new "flagship" for the Blue Oval brand has arrived. The new Ford, a lookalike of the Fusion model available here in the United States, makes its European debut with flavors of powertrain and body style that will be unique to its target market.
We've known for sometime now that Europeans love the Ford Mustang. Gray market importers have made plenty of cash by shipping the ponies from the United States to the EU for years, but now it looks as if buyers will be able to sink their teeth into brand-new, factory-perfect examples of the next-generation Mustang straight from Ford.
It's a big week for buildings: after the announcement of Lamborghini's prototype center, not only is Ford not pulling out of Europe, it has spent €11.6 million ($14.3M U.S.) to expand its design center in Germany. The 3,000 square-meter architectural addition to the location charged with global design of small and compact Ford models revamps existing studios, adds a "powerwall" for projecting 3D designs and virtual envrionments, along with new machines for clay modeling.
The economic turmoil, lack of consumer confidence and howls for "More austerity!" in Europe have delivered a UFC-like beating to every automaker's books. And with some analysts still wondering if the current euro zone will even survive, it is obvious that it won't be over soon. But is that a reason for both General Motors and Ford to stop doing business on the continent, as Automotive News Editor-in-Chief for Europe Luca Ciferri has written?
Ford doesn't sell its Mustang in Europe, but that hasn't stopped fans from the UK to Poland from figuring out ways to procure one. The Mustang is playing a part in Ford's "Go Further" ad campaign – which showcases the global portfolio and is aimed at changing perceptions by being discreet with Ford branding – and that gets air time in Europe.
Ford of Europe has its headquarters in the German city of Cologne (Köln), so an electric vehicle partnership between the city and the automaker doesn't come as a surprise. Ford of Germany, the city of Cologne, RheinEnergie AG, and the University of Duisburg-Essen have signed an agreement to deploy a fleet of 10 Ford Transit delivery vans for use in the inner city, where the zero-tailpipe emissions and reduced noise of the EV can be maximized. Ford is (obviously) supplying the vans and Rhei
Despite the fact that Ford has yet to request any special funding from either the federal governments in the United States or abroad, the automaker has repeatedly said that it supports its competitors as they seek financial aid. According to Ford of Europe CEO John Fleming, "We have no objections to competitors asking governments for support in these very difficult times."
Ford, along with every automaker selling cars in Europe, is hard at work reducing the carbon emissions of its most popular people movers. Europeans are taxed based on the CO2 emissions from their car's tailpipes, and anything that scores less than 119g/km is subject to big savings. For this reason, Ford's understandably happy to announce that its C-Max now gets a 119g/km rating when equipped with either of the 1.6-liter diesel engine options. Fuel efficiency is also a strong point, with the comb