Ford: European Sales Off 10 Percent
(AP) — Ford says its first-half sales in Europe fell 10 percent as auto sales in the region dropped in a slowing economy. The company says first-half sales by all automakers hit their lowest level in Europe since 1994.
Sales grew even worse for Ford in June, dropping 16 percent as the economy continued to falter. The company says it decided not to match heavy discounts from competitors. The automaker says it ranked No. 2 in European sales during the first half of the year. The Ford brand was the top seller in England, where sales grew one percent.
Ford warned last month that its second-quarter profit will be lower than a year ago due in part to growing losses in Europe. The company reports earnings July 25.