Ford's share price is on the ropes and the debt markets are pummelling its bonds as the car maker struggles in a vicious price war started by General Motors. Yet Ford is at last recovering in Europe, after years of heavy losses. Visitors to the Paris motor show this week can see the latest weapons in its revival campaign, as Ford of Europe shows off six new models. Ford's European profit is tiny, $155m in the second quarter. But that is three times its American profits in the same period. In Europe Ford is halfway through a three-year effort to cut annual costs by $3 billion. According to David Thursfield, chairman of Ford of Europe, capacity has been slashed, factories are 95% full and $2 billion will soon be sliced from its parts bill.
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