According to CFO Lewis Booth, Ford expects to lose as much as $500 to $600 million from its European operations in 2012, citing the continued decline of the market due to political and financial unrest in the region, says Automotive News Europe.
"The European overcapacity is well understood," said the CFO, who once led Ford's European offices. "We have to see some actions in Europe to reduce capacity."
Despite the likely chance of losing around a half a billion dollars in 2012 in the European market, Lewis was confident that Ford's strong expected performance in North America would more than offset the losses and net at least a "decent" profit. Booth also believes that Ford's financials warrant an investment grade rating, but continued unrest in Europe may hold the automaker back from receiving an upgrade in 2012.
