The American Ford automotive concert was at the forefront of Europe for a very long time. The situation has changed significantly in recent years. Thousands of people will lose their jobs and many models will disappear from the market.
Ford and the European brand crisis
Europe has long been a favorable place for Ford in terms of sales. Unfortunately, the situation has changed significantly in the last few years. Model sales dropped and accounting data turned from yellow to red. Last year, the US board announced that there were hard times ahead of Ford in Europe. This announcement meant only one significant reduction in staff and the disappearance of car models. In the third quarter of the previous year alone, the automotive company lost as much as EUR 245 million in Europe, which is the equivalent of approximately NOK 2,4 billion.
Reduction of thousands of employees
The Automotive News industry portal writes about the several thousand reduction of employees in Ford. The automotive company plans to withdraw from unprofitable markets and end the production of unprofitable car models. Ford currently employs 53 people in Europe. According to vice president Steven Armstrong, the company will have to say goodbye to most of these people.
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What models will be withdrawn from production?
Ford especially wants to limit the production of multi-function models. According to the company's data, this is a vehicle that has recently lost a lot of sales. Many people ask whether Mondeo will disappear from sale? It turns out that this is the kind of sale car consumption has dropped significantly in recent years, not only in Norway, but also in many other European countries.
Heavy 2018
2018 was not a good year for Ford in the Norwegian market. Compared to the previous years, sales decreased by as much as 26%. Ford ended last year with a 3,4 percent market share in Norway, ranking it in tenth place on the list of Norway's best-selling car brands.