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DATE News (chronologically)
05/16/10
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Ford sales tank in Europe
Auto sales fell last month in several major European markets as scrappage programs wound down or were curtailed in some countries, and Ford Motor Co.'s decline was even greater as the automaker held back on offering big incentives to match its rivals.

Ford's sales in its 19 traditional European markets fell more than 17 percent in April, compared with the same period a year ago, while the entire industry declined just more than 5 percent. As a result, Ford lost more than a point of market share in the region. 

"In April, we took a conscious decision not to follow the market, knowing that the expected decline in industry volumes after the ending of many of the scrappage schemes would likely prompt some players to increase even further their aggressive marketing incentives," said Ingvar Sviggum, vice president of marketing, sales and service for Ford of Europe.

"That's exactly what happened, and while we will remain competitive in the market, we will not devalue our brand or hurt our residual values just to chase volume or share."

Maintaining profitability in the region is critical to Ford's turnaround strategy.

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