Ford begins shipping two models to EuropeAugust 13, 2020
The rise in the euro prompted the American automaker to make a landmark decision – to begin shipping the updated Mustang muscle car and Explorer SUV to Europe.
After several years of lack of supply to Europe for Mustang assembled in Michigan, Ford has expanded its import portfolio, including the recently launched Explorer plug-in hybrid SUV. In 2021, it will launch sales of the all-electric Mustang Mach-E.
“This is one of our pillars and we really intend to develop it. It will be a niche business for us – these are relatively small volumes, but I think it can be very beneficial for the brand and, importantly, profitable, “- said Ford of Europe President Stuart Rowley about the automaker’s imports at the JPMorgan auto conference.
Ford of Europe sold 3,331 Mustangs in the first half of the year, up from 2,179 in the same period last year, while Explorer sales remained flat at 464 SUVs, according to the company.
The euro recently hit all-time highs against the dollar, surpassing € 1.19 per dollar earlier this month, the highest since May 2018.
Ford of Europe’s import business has been a bright spot during difficult times. Last year, the automaker announced plans to restructure its business in the region by cutting more than 10,000 jobs and closing or selling six factories. Ford reported a second-quarter operating loss of $ 664 million in Europe last month.
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