Ford Resurges In Line With BMI Expectations
Ford Motors reported an 11.2% year-on-year (y-o-y) increase in car sales in the European region (which the carmaker defines as 20 markets) in the first quarter of 2014, to 297,900 units. This is commensurate with BMI's long-held view that the regional market would resurge in 2014, and be a source of sales and revenue growth for carmakers.
The company has released 10 new or updated models for the European market in 2014, and we believe this has helped drive the strong year-to-date sales growth. The company reported strong sales growth with retail and fleet customers in Q114, and these segments now account for some 73% of Ford's sales in the region. We believe Ford is well-placed to benefit from the sustained upswing in European sales in the coming year, as these new models help the company gain market share and the high-growth retail and fleet segments continue to buoy demand.
Bullish 2014 Outlook
|Holding Support On European Performance|
|Ford Motor Share Price, USD|