Tuesday, January 18, 2011

Ford (NYSE:F) December Sales in Europe Plunge 23 Percent

Underscoring the challenges still facing Ford Motor (NYSE:F) and the overall auto industry, Ford reported their European sales plummeted by 23 percent in December.

Stephen Odell, leader of Ford Motor Company (NYSE:F)’s European operations, said, “It was almost inevitable Ford would lose some share and sales in Europe. This was in part due to some of the competitive actions in the market.”

The two reasons for the decline was competitors offering rebate deals which effectively cut into Ford sales in Europe, as well as the auto market shrinking for the month.

Ford closed Friday at $18.65, dropping $0.03, or 0.16 percent.

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