The European new car industry continues to struggle as the market slows down throughout Europe. May was the second straight month of decline in the European new car industry. Ford sold 105,500 units in May, which was 17,100 lower than in 2009. Ford continues maintaining profitability with Ford Incentives. Competing manufacturers like Nissan have offered Nissan Deals in order to compete with Ford’s new incentives.
Ford increased their profitability in the first quarter of 2010. The steps that Ford intends to take to increase profitability based on a quote by vice-president of marketing, Ingvar Sviggum, include: growing sales volume, reduce volume in areas that are less profitable, improving profit margins and increasing resale value of automobiles, and improving technology in their new products.
Ford continues to do well in the European market, being the number 2 best selling passenger car manufacturer. Ford was also the best selling brand in the UK, Hungary, Denmark, Ireland and Turkey for the first 5 months of 2010. The Ford Fiesta is Europe’s number 1 top selling sports car with 204,000 units sold during the first 5 months of 2010. Most of the Fiesta’s sales have been from Europe, where 730,000 out of 833,000 models of the Fiesta have been sold since design changes in 2008.
Sviggum also said, “2010 is extremely busy for Ford in terms of new vehicle launches, and we have some very exciting new models coming to the market this year and early in 2011.”
In 2010, Ford plans on relaunch or coming out with 11 products, in an attempt to improve profitability and stay competitive. Ford has made massive changes in their technology and features with models such as the new S-MAX and Galaxy. The new C-MAX and Grand C-MAX multi-activity vehicles are also going to be released in 2010. Ford has also improved their diesel engines with new technologies, and the EcoBoost 2.0 liter direct injection turbocharged engine is included with the S-MAX, Galaxy, and Ford Mondeo.
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