Ford Tackles Europe Crisis with New-Model Surge

AMSTERDAM-2,500 Ford dealers in Europe were treated to a global parade September 4 as the U.S. automaker sought to restore a black-ink market and end a scenario of Europe losses likely to top the $1 billion mark again this year.

Unveiled in the Dutch city by Ford CEO Alan R. Mulally was a raft of global cars, including the Fiesta compact, Edge and Kuga SUVs and Mondeo sedan.

Ford is fresh from a near record quarterly loss of $404 million in Europe and Mulally, 66, and reportedly near a retirement deadline in 2013, told the European dealers that Ford will embark on a retrenchment plan in Europe that could cut employment and costs in the region.

The company, which dodged the bankruptcy wave that engulfed GM and Chrysler in 2008-09, plans to introduce its new Eco Boost engines in Europe in the current model year as a sales spur. Mulally gave no timetable for restoring profitability to its European market.

Ford also reportedly plans to step up its exports of 2013-model Lincoln cars to Europe.