AFP, Frankfurt :
US auto giant Ford said Tuesday it has no concrete time schedule for when it aims to return to profit in Europe.
“We have not been specific about a date,” chairman and chief executive of Ford Europe, Jim Farley, told journalists on the sidelines of the IAA motor show.
“But obviously (we) are laser-focused on returning the business to profitability. That’s why we’re here,” the Ford Europe chief said.
Ford sold 69,000 vehicles in Europe in August, an increase of 11.7 percent over the same month a year earlier. And that raised the total for the year so far by 10 percent to 838,900 units, giving it a market share in Europe of 8.0 percent.
The company said it is the number one brand for commercial vehicles, such as Ford Transit, in Europe and the number two brand for total vehicle and passenger car sales.
“Sustainable profitability is definitely the objective,” said deputy chief Barb Samardzich.
“So that when the next downturn does come, our structural costs and business set-up are able to sustain that and still be profitable.”
“We’re not being specific (about a return to profitability) because we think it’s important for us to focus on customers and our own controllables,” rather than “making predictions about profitability,” Farley said.
“The external situation continues to be very dynamic. Russia is a good example.
