The situation in Europe is “very volatile”, Ford CEO Alan Mulally told Reuters today in Berlin. “We don’t know whether it the European economy will stabilize or hit bottom or not because it’s continuing to decrease.”
Ford is ready to close more plants in Europe if economic prospects in Europe continue to deteriorate, Mullay said. The European economy “will determine what we do – if we do anything more. The most important thing is to match our production to the level of demand.”
Ford took the lead last month and announced the closure of three plants in Europe. The move was well received by financial analysts, who also criticized GM for its dithering.