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Mulally says Ford wants steady growth in European markets

Ford Motor has room for steady growth in its share of the North American and European auto markets, chief executive Alan Mulally said yesterday.

 

Ford, the only large U.S. automaker not to reorganize in 2009 under a government-supported bankruptcy, has increased its market share in the US this year as rivals General Motors and Chrysler stumbled towards bankruptcy.

As Ford continues to bring on small and mid-sized vehicles "I think we have room to grow, profitably of course, in the United States," Mulally said in a webcast with industry analysts.

Ford also has room to grow in Russia and Europe, he said.

"Two very large mature markets, so growth will be steady, but not real dramatic," Mulally said of the U.S. and Europe. "If you look at Asia-Pacific we have a lot of room to grow."

Ford, which has posted losses totalling about £18bn for the years 2006 through 2008, expects to be at least break-even in 2011 consistent with a gradual recovery in the economy that would also bring an increase in industry sales.

 

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