Ford Motor Company (NYSE:F) just showed more signs that its recovery in the troubled European auto industry is on track. America’s second largest automaker posted European auto sales that jumped 16% year over year (YoY) in June.
The Blue Oval said it sold 126,800 vehicles in 20 European markets last month, despite the lingering Greek debt crisis that has played a role in curbing new vehicle demand levels in the region. Ford said its sales through the first six months of the year in Europe clocked in at 668,000 vehicles, up 11% over the same January-June period last year. It is also more than the 9% increase posted by the broader industry.
Ford’s star brands in the region last month were the Mondeo sedan, EcoSport entry-level crossover, and the Kuga SUV, which helped the company improve its market share to 8.1%.
While its larger American counterpart General Motors Company (NYSE:GM) is consolidating operations to curb costs and boost margins, Ford aims to expand its top-line growth to cushion the adverse broader industry impact.
The automaker plans to roll out new vehicles in Europe, including the S-MAX, C-MAX, Mustang, and Modeno Vignale, according to Roelant de Waard who is the company’s vice president of marketing, sales, and service for Europe. Ford believes newer vehicles, especially ones that cater to European car shoppers’ needs, should help sustain impressive sales volumes in the region.
“This historic product push is well timed as we have started opening a network of flagship FordStores in cities across Europe, offering a truly modern and world class experience for customers,” Mr. Waard said.
Beyond pushing out new vehicles, Ford is also pushing for a pleasant shopping experience through more than 100 “FordStores” in Europe, which include upgraded modern-style showrooms and deliver superior customer service. The Blue Oval hopes to add another 100 FordStores to its markets in the region by the end of 2016, along with presence at 500 showcase dealerships.