The growth of the Euro has forced the American automaker to take the momentous decision to begin deliveries of the upgraded muscle car Mustang and Explorer SUV in Europe.
After several years of lack of supply in Europe the Mustang is assembled in Michigan, Ford has expanded its portfolio of imported products, including the recently released plug-in hybrid Explorer SUV. In 2021 it will start sales of a fully electric Mustang Mach-E.
“This is one of our pillars and we do intend to develop it. It will be a niche business for us is relatively small amounts, but I think it can be very beneficial for the brand and, importantly, profitable,” – said the President of Ford of Europe Stuart Rowley on imports of products of the automaker in the automotive conference JPMorgan.
According to the company, in the first half, Ford of Europe sold 3 331 Mustang compared to 2 179 during the same period last year, while sales of the Explorer remained at the same level and amounted to 464 of the SUV.
The Euro has recently reached historic highs against the dollar, exceeding the € 1.19 per dollar in the beginning of this month, which is the maximum value in may 2018.
The import business, Ford of Europe was a bright spot in hard times. Last year, the automaker announced plans to restructure the business by reducing more than 10 thousand jobs and the closure or sale of six plants. Last month Ford reported operating loss in Europe in the second quarter of $ 664 million.