Ford prepares to launch string of new models

PanARMENIAN.Net - Carmaker Ford will launch a string of new models later, including the latest versions of its best-sellers Fiesta, Mondeo and Kuga, BBC News reported.

A new family of Transit commercial vehicles will also be unveiled, as well as two completely new vehicles whose names have yet to be revealed.

The model onslaught is designed to revive sales in Europe. It comes soon after the US carmaker warned its European operations could suffer $1bn (£630m) losses this year.

Ford's share price has fallen sharply in recent months, reflecting the carmaker's difficulties.

During winter, the stock was trading close to $13. Since spring, it has been slipping and it is now trading closer to $9. "The surprise to many is how poorly Ford is doing," observed IHS Global Insight in an analysis on July 26.

At the time, Ford's financial performance during the April to June quarter revealed that "North America is the only place in the world that Ford performed well", according to the analysts.

In Europe, the American automotive giant's sales fell almost 10% during the first half of 2012 to its lowest level in 17 years.

During the same period, South Korean rivals Hyundai and Kia saw sales surge, up 12% and 25% respectively.

But new models should help Ford fight back. Ford says it expects its Fiesta to become the world's best-selling car, overtaking Toyota's Corolla.