Ford Europe still hoping to make profits this year

Ford Europe still hoping to make profits this year

Ford Motor might be having a horrible time in their domestic market but they are pretty optimistic about their operations in the European market. The European division of the American company still expects to make a profit in 2006 despite facing several challenges.

Ford of Europe Chairman Lewis Booth said in a statement: “We have declared that we will be profitable in Europe this year and we expect to stay there.” He was speaking at a function launching two vehicles in Belgium.

The company had earlier claimed that they were set to post a pretax profit this year excluding special items in their Europe based operations. Booth added that the company’s market share in the region was essentially flat compared with most of its western competitors who are facing massive competition from the Japanese automakers.

Ford has been struggling in their US based operations and has announced massive job cuts in the country. In addition, they are also closing down many plants as part of a massive restructuring process to get back to profitability.