Ford Takes A Beating In Europe
Ford's grip on global auto markets is slipping faster than most realize, and the places it once counted on for growth are now closing the door on the American automaker.
Ford’s (NYSE: F | F Price Prediction) only remaining fortress is its home market. And it is not doing well here. Toyota (NYSE: TM) has passed it to become the second-largest selling brand in the US. Its third-quarter figures were weak in America. For the first nine months of the year, sales fell 8.6% to 1,519,279.
China has become a challenge for most car companies based outside the country. BYD, the world’s largest EV company, still tops the market. VW and Toyota do well. No US car companies are near the top of the list.
For US car companies, the EU is the area for expansion. Sales in the region are measured by “registrations” according to the ACEA. EU registrations in the first nine months were 10,555,361, up 6.2% from the previous year.
Local car companies lead EU registrations. The VW group has 27% of the market. Stellantis had 15%. Renault Group had 11%.
Among car companies based outside the EU, Hyundai topped the list with 7.1% market share, about the same as Toyota.
Ford is struggling in the EU. Its market share was less than 3% in the first three quarters. Unit registrations fell 17.6% to 191,896. That was behind China EV giant BYD, which registered 206,002 cars, up 154.4%.
While Ford has not run out of runway in its home market, it appears to be losing ground. It also has no chance to gain ground elsewhere.
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