Ford's Europe Sales Fell 33% in the First Quarter Amid Coronavirus Outbreak

Ford Motor (NYSE: F) said that its sales in Europe fell 33% in the first quarter, after the coronavirus pandemic shuttered many of its factories and dealers in the region. 

Ford sold just over 241,000 vehicles in the 20 European countries that account for most of its sales in the region, it said, down 33.1% from a year ago. Ford's aggregate share of the market in those 20 countries was 6.9%, down from 7.6% in the first quarter of 2019. 

Overall registrations of new passenger cars in the European Union, a rough proxy for sales in the region, fell 25.6% in Q1 2020, according to figures from the European Automobile Manufacturers Association. 

Continue reading

Source Fool.com