Ford Considers Slashing European Line Up After Record Losses
This article was originally published HERE
Ford is still determining how many passenger car segments it needs to be competing in within Europe amid its continued search for profitability in the region, CEO Jim Farley said on the company’s earnings call.
Ford posted profits of $47 million (£38 million) for Europe in 2022, up from a $154 million loss in 2021 after losses of $374 million in the final three months of the year eradicated profits in the first and third quarter, company figures show.
Europe is Ford’s second biggest region in terms of revenue, generating $25.6 billion in the year against $109 billion in its leading market of North America. Farley said the company “should have done much better” in 2022 after posting losses of $2.0 billion).