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Ford Reconfirms Its Commitment To Spain
€750 Million Investment To Build The Next Generation Kuga in Valencia | Ford of Europe | Ford Media Center


- Ford is investing more than €750 million to build the next-generation Kuga medium-sized SUV in Valencia, Spain

- Major investment reconfirms Ford’s commitment to Spain as one of its most important manufacturing locations in Europe

- Spanish national government and Generalitat Valenciana regional government supportive of new Ford investment


Kuga current production accounts for close to 50 percent of Valencia’s production; Kuga sales in Europe up 22 percent so far in 2017 at 126,900
Around €3 billion invested in Valencia since 2011

Ford is investing more than €750 million in to build the next-generation Ford Kuga medium-sized Sports Utility Vehicle in Valencia, Spain.

The new investment brings the total sum invested in Ford’s Valencia operations to around €3 billion since 2011.

“This major investment of more than €750 million reconfirms in the clearest way our continuing commitment to the Valencia region and to Spain as one of our most important manufacturing locations in Europe,” said Steven Armstrong, president and CEO, Ford of Europe, Middle East and Africa.

“I also want to thank the national government in Madrid and the Generalitat Valenciana for their continued support, and for their ongoing work to maintain a favourable climate for business investment in the Valencia region.”

Employing more than 8,000 people across all of its operations, the new investment will help to secure employment at Ford’s Valencia site. The investment builds on cost efficiency and productivity improvements by the management team, union partners and workforce.

Today, around 25 percent of all new passenger vehicles sold in Europe are SUVs. Kuga accounts for close to 50 percent of Valencia’s vehicle production volume.European sales of Kuga so far this year at 126,900 are an improvement of 22 percent compared with the same period in 2016. Kuga is Ford’s third top-selling nameplate in Europe behind the Fiesta and Focus.

Further details concerning the new investment announcement and the next-generation Kuga will be made closer to launch.

Ford’s Valencia Operations

Manufacturing vehicles since 1976, Ford’s Valencia Vehicle Operations and Engine Plant has produced more than 12 million vehicles and 16 million engines, and is one of Spain’s top automotive exporters.

In addition to the Kuga medium-sized SUV, Valencia is the sole source of production for the Tourneo Connect people-mover and Transit Connect light commercial vehicle models, and for the full range of Ford’s Mondeo, S-MAX and Galaxy models.

Valencia builds more nameplates and vehicles by volume than any other Ford plant in Europe. Around 90 percent of Valencia’s vehicle production is exported to more than 75 countries worldwide, including the United States.
 

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Re: Ford Reconfirms Its Commitment To Spain ...S.A not so much

broadening the scope of this thread...
other Reports-Links @ site
Ford Could Pull Out Of Select South America Markets
FordAuthority
— Aaron Brzozowski — Nov 22, 2017


According to one JPMorgan analyst, Ford Motor Company could stop doing business in certain South American markets in an effort to cut its losses in the region and improve its financial fitness. Bloomberg reports that JPMorgan auto analyst Ryan Brinkman met with Ford CFO Bob Shanks and President of Global Markets Jim Farley this week, and shortly after, penned a letter to investors in which he suggested that the automaker could make an exit from some countries in the region.

“Ford seems to be working on an out-of-the-box transformational plan to stanch what it deems as unacceptable losses in South America, which we suspect could be announced over the short-term,” the letter read in part. Brinkman says Ford could decide to work more closely with other automakers, “perhaps even via some sort of formal tie-up,” although fixing its poor financial performance in South America “could also entail selective exits from certain markets.”

Ford lost $587 million in South America through the first nine months of 2017, according to Bloomberg, and even that is an improvement over 2016, thanks to more favorable pricing and stronger sales. Brinkman says that industry-wide, most of the recovery in South America comes from low-margin fleet sales.

In an email to Bloomberg, Ford said that South America is important to its business operations, and the automaker will work to make its business there “operationally fit.”

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