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pstrongCOLOGNE, August 13, 2010 /strongndash; Ford was Europes No. two top-selling consumernbsp; car brand in July and for the first seven months of 2010 ndash; and preserved market leadership in the United Kingdom, Denmark, Hungary, Ireland and Turkey ndash; instead the fourth consecutive month of sectornbsp; decline following the ending of most scrappage offers earlier in the year./p
pI want to show gratitude our clients for continuing to put their confidence in the Ford brand and our finest -ever product range, said Stephen Odell, Ford of Europes recently -appointed chairman and CEO. These are powers that we are constructing upon further as the year passes , with a raft of latest products, technologies and customer-focused steps coming to market over the next few months.nbsp;nbsp;nbsp;/p
pOur policy of not chasing volume and share at the cost of profitability is also paying off. Ford made $429 million profit in the first half of 2010 ndash; almost a $1 billion better over the same period last year ndash; so our strategy in Europe is certainly successful ./p
pnbsp;July was the fourth month of decline in a row in the European new car industry .Ford sales of 97,800 new automobiles in its traditional 19 European markets was 28,100 lesser compared to July 2009. Market share in Fords traditional European markets was 8.3 per cent for the month, 0.7 percentage points down on July 2009.nbsp;nbsp;/p
p Massive price cuts on new cars ndash; as many of our competitors are continuing to offer ndash; can have the negative effect of lowering the residual value, of a vehicle and translates to a danger to the investment a client has made when purchasingnbsp; a new car, said Ingvar Sviggum, vice president, Marketing, Sales and Service, Ford of Europe. I believe such unsustainable heavy discounting only damages brand standing and further weakens the market./p
pFiesta continues to be Europes No. 2 top-selling new car and Fords top -selling new car, with 266,500 units sold during the first 7 months of 2010. Since the newest generation Fiesta went on sale in October 2008, more than 911,000 Fiestas have been purchased by customers around the world, with 793,000 being sold in Europe./p
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