No Light At The End Of The Sales Tunnel - Ford

posted 17 Apr 2013, 07:24 by Mpelembe [ updated 17 Apr 2013, 07:26 ]

With unemployment running high in the euro zone, Ford Europe's CEO Stephen Odell says sales figures are unlikely to improve in the second-half of 2013 but he's pleased with the rise in retail share.

LONDON, ENGLAND, UK (APRIL 17, 2013) (REUTERS) - FORD EUROPE CEO STEPHEN ODELL,

"(QUESTION: What does that mean for Ford? And you were talking about losses of $2 billion in Europe this year, are you changing that figure?)

We're not changing our outlook from a guidance perspective. We're very much on track with the three elements of our plan. Our cost plan made very good progress as you know with the discussions in Southampton; making very good progress in Genk, and also still continue to talk with the folks in Dagenham as, you know, with an absolute view to a collaborative outcome there. Our product cadence continues. And even through the difficult times, one of the benefits of one Ford is our product cadence is coming through. 40% of our volume is new this year. And our brand just continues well. So we're sticking to that guidance this year.

(QUESTION: We will get on to new products in a bit. But so in terms restructuring, I think with three plants, 6,200 job losses already discussed. You're sticking to that?)

Well, we've started those discussions last year. That's still where we are. And I think if your question is, does it need, do we need to do more? We'll always monitor it; but at this point, nothing new to announce.

(QUESTION: Okay. Let's talk about market share as well, your press release talking about an increase in retail market share. The emphasis on retail is key there, I think. Your overall market share down again. I think your target was 8% by 2014 for overall market share. Can you update that figure for us?)

Yeah. We haven't given a target for 2014. Our guidance was basically flat of vehicle share versus last year, last year was 7.9%. We're running about 7.7% in the first quarter. We always knew that moving business away from over reliance on major daily rental and demo units and swinging them back to retail in the early part of the year would mean a lower share. But we're doing exactly that. And the data point you just referenced in March, our retail share was 9.5%. That's 0.7% up because of the product investment that we're continuing to make."

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