Ford uncovered 15 restyled models for European market that it is going to launch over next 5 years to revamp slumping sales. While other automakers are holding back on new vehicle release due to less demand inEurope, Ford announced that they’ll speed up new car launches, expanding its SUV, commercial vehicle segments.
Detroitautomaker is restyling Fiesta and also brining the redesigned version of iconic Mustang cars acrossEurope. Stephen Odell, CEO of Ford’s European branch said the improvements in the ‘vicious’ market aren’t expected soon. The sales in the first half of the year fell 10% to 517,100 units, with nearly 8% market share inEurope. The Europeans demand for cars has been decreased due to the financial crisis, forcing up unemployment and less production. European Union’s vehicle sales have been dropped 6.8% in the first half to 6.64million, which was 7.1milion last year in the same period. Since there is drop in the sale, concerns about factory capacity are rising across the continent.
Stephen Odell said automaker want to show that regardless of financial crisis, it is investing in the future. He said there is a great opportunity inEurope. It anticipates that vehicle sales in Europe as well asRussiato increase at least by 20% over next 5 years to 23million units. Many of the new models announced at a assembly of dealers in Amsterdam are either redesigned edition of already existing models or new European launches, which are offered in other countries, as the automaker picks its global tactic formed few years ago to tackle up North America’s economic crisis.
In 2015, Ford’s European showrooms will get fifteen real global models, offering to 71% the share of global vehicles inEuropefrom 43% of current status. Alan Mulally, CEO of company said ‘One Ford’ plan has helped the manufacturer post 12 next quarters of profits. This strategy had helped the automaker to get through the economy disaster in US.
The restyled model lineup includes Kuga SUV to be launched in 2012, Eco-Sport compact SUV to be launched later, new Fiesta, featuring advanced technology and sharper exterior design aiming at younger drivers. Many models will get 1.0-L EcoBoost engine that achieves improved performance and better fuel economy.
Automaker is targeting medium sized car segment, with a restyled Mondeo, which will be offered in four-and-five door wagon style. It is brand’s first fully-hybrid car for European market. With this, automaker is expecting a boost of 15% growth in midsize market by 2015.