Ford Gains in 51 European Markets on Growth in Russia
January 15, 2012, 10:00 AM ESTBy Keith Naughton
(Updates share price in final paragraph. For more about the Detroit auto show, see SHOW <GO>.)
Jan. 13 (Bloomberg) -- Ford Motor Co., fueled by growth in Russia and Turkey, increased 2011 sales in 51 European markets surmounting economic challenges, the automaker said today.
Ford sold 1.58 million vehicles, up 2.4 percent, in 51 countries, including emerging markets such as Russia, Romania and Turkey. In the traditional 19 European markets, Ford’s 2011 sales fell 1.3 percent and its share declined to 8.3 percent from 8.4 percent in 2010, Ford said in a statement on its website.
Economic headwinds amid the sovereign debt crisis pushed down industrywide auto sales by 0.2 percent to 15.3 million in the 19 traditional markets, Ford said. The automaker on Jan. 4 forecast auto sales in that region will fall to 14 million to 15 million this year. A marketing push in Germany helped to boost Ford’s share there to 7.4 percent in 2011 from 6.9 percent.
“We made solid inroads, particularly in growth markets such as Russia, Turkey and eastern Europe, and in Europe’s largest market, Germany,” Roelant de Waard, Ford’s European marketing chief, said in a statement. “This is a very good sign.”
Ford, based in Dearborn, Michigan, wants to replicate in Germany what the company achieved in the U.S. by using fuel economy and technology such as voice-activated stereos to command higher prices from vehicle buyers. The company’s vehicle sales in Germany for 2011 rose 18 percent, Ford said.
Ford fell 0.8 percent to $12.04 at the close in New York.
--Editors: Bill Koenig, John Lear
To contact the reporter on this story: Keith Naughton in Southfield, Michigan at knaughton3@bloomberg.net
To contact the editor responsible for this story: Jamie Butters at jbutters@bloomberg.net
