Is Ford Running Out of Steam in Europe?
Ford Motor Company's (NYSE: F) pre-tax profit in Europe fell sharply in the second quarter, to $88 million from $467 million a year ago -- a $379 million drop.
On the one hand, at least Ford is making money in Europe. Rival General Motors (NYSE: GM) is in the midst of selling off most of its European operation after years of losses and a frustrating attempt to restructure its business.
Ford has deep roots in the Old World and isn't likely to follow its Detroit rival's lead by abandoning the European market. But the big profit drop deserves a closer look: Was it a fluke -- or is Ford headed for a period of GM-level frustration?
Source: Fool.com
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