GENEVA , Switzerland – Ford of Europe’s transformation plan is bearing fruit and the company is on course to return to profitability by 2015, Stephen Odell, president of Ford of Europe, Middle East and Africa, confirmed at the Geneva Show.
In an interview with @Ford, Odell said the European car industry is showing signs of modest recovery and that Ford is well placed to achieve sustainable and profitable growth in the near future.
“The message is we are on track, we were absolutely on track last year, so let’s keep it going and we can move this company into profitability by 2015,” he announced.
“We’ve said that we will reduce our losses in 2014 and we will continue our product cavalry. We will launch 10 new vehicles in 2014 and that’s on top of the 11 that we launched last year so we are right in the heart of our 25 vehicles in 5 years. We’ve got to keep pushing on out channel mix and we’ve got to keep pushing on our brand favourability, all of which improved last year.”
Odell said that the European car market is slowly gaining momentum in 2014: “The industry feels like for the first couple of months that it is starting to have a modest recovery. January was at about 14 million which compares to a full year last year of about 13.7 million. February, well the numbers aren’t in yet but it’s looking at around 14 and a half. March, of course, will be distorted by the UK but the trend feels like it is starting to recover at a modest rate, which is in line with our forecast.”
Odell also thanked employees for their continued hard work and support.
“My message to employees is firstly thank you. We’ve got through some really difficult times but we’ve got through it with a good plan.”