The hot-rod Fiesta ST is one of several new products that have been been surprise hits for Ford in Europe this year. More new products are on the way. Photo credit: Ford Motor Co.
Ford (NYSE:F) has had great success here in North America, but it has been a different story in Europe. Many European nations are dealing with tough recessions, and new-car sales have fallen to lows not seen in two decades. That has led to big losses for Ford: more than $1.7 billion last year and more than $800 million in the first half of 2013.
Last fall, Ford CEO Alan Mulally announced a turnaround plan for Europe. The company took the same approach that turned around its U.S. operation -- and that gave it a good chance of success.
Ford is still losing money in Europe, but it has been gaining market share and making good progress in reducing costs. In this video, Fool contributor John Rosevear looks at the latest news from Ford in Europe, and at some signs the automaker is stepping up its efforts to get back to profitability in the Old World.
Fool contributor John Rosevear owns shares of Ford. The Motley Fool recommends Ford. The Motley Fool owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.