Ford's factory in Genk, Belgium, is one of three European Ford plants set to close under the company's Europe turnaround plan. Photo credit: Ford

Ford (NYSE:F) has had tremendous success turning around its business in North America, where it has gone from massive losses to strong profits in just a few years. Now, the company is working hard to export that success to Europe, where it lost over $1.7 billion last year -- and where it could lose as much as $2 billion more this year.

It's still early in the day for Ford's European turnaround plan, but already there are some big -- and surprising -- signs of progress. In this video, contributor John Rosevear looks at the latest numbers from Europe -- and at whether recent gains will be enough to turn the tide for the Blue Oval.