ďIt is a very aggressive environment and until either demand picks up or capacity is adjusted to the situation, itís unlikely going to change,Ē de Waard said during an interview with Bloomberg at the Paris Motor Show. ďYou have to live with the realities of the industry.Ē
Fordís sales in Europe dropped 29% in August 2012 as compared to the same month a year ago. At the same time, their market share fell by 1.7%. Ford of Europeís pretax operating loss worsens to $404 million in Q2 2012, deterioration from Q1ís loss of $149 million. Ford said that it expects the full-year European losses to exceed $1 billion, double its earlier forecast. According to de Waard, he sees possible recovery only in 2014.