European car show upbeat, despite economy
Stock markets around the globe are plunging, consumers are retrenching and the threat of another recession seems to be on everyone’s mind these days.
Well, almost everyone. Optimism is the mood of the moment as the biennial Frankfurt Motor Show gets under way this week in Germany.
Never mind that Ford warned recently about sales missing estimates. No matter that automotive executives are watching the economic problems that are threatening to tear the European Union apart. Ford “comes to Europe with optimism,” insisted Stephen Odell, CEO of Ford of Europe, in a speech previewing the carmaker’s new line-up at the German car show.
In fact, Ford may have more reason for optimism than other automakers. The automaker has regained significant sales momentum this year after years of sales and market share declines that only complicated the problems it had in its home market. It has been sitting in the number two spot in Europe, this year, just behind Volkswagen AG — which is itself likely to be the second-largest automaker in the world when the numbers are added up for 2011, thanks to Toyota’s crushing production problems following the March earthquake and tsunami in Japan. (via msnbc.com)
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