Ford's European CEO Sees European Oversupply of New Vehicles of 1.5-2.0 Million
07/12 08:06 AM
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08:06 AM EDT, 07/12/2013 (MidnightTrader) -- Reuters News is reporting this morning that Ford's European CEO Stephen Odell said that he estimates that the European automotive industry is making 1.5 million to 2 million vehicles each year more than the present market's demand.
However, Odell told reporters at company headquarters that Ford is maintaining its forecast of 13.5 million vehicles in 19 Western Europe nations.
Ford's market share for those 19 markets was 8.2% for June, up from 7.2% in June 2012, marking Ford's third consecutive month of market share increases in Europe.
Shares of F were last traded in pre-market at $16.98 with a 52-week range of $8.82 to $16.99.
Price: 16.95, Change: -0.03, Percent Change: -0.18
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