Ford Gains After First Half European Sales Outperform Industry Results For Region

Ford Motor

shares rose 1.9 percent after the second-largest U.S. automaker reported first half vehicle sales in Europe did better than industrywide deliveries. Shares began moving at the open after Odell, at a media event in Dearborn, Michigan, reported the sales increase and said Ford is maintaining its forecast for a European profit in 2015. Ford relies on North America for its profits. At 11 a.m. EDT, the company issued a statement confirming the sales rise with additional details. Ford's sales in the region increased 6.6 percent during the first six months of 2014 , better than the industrywide 6.3 percent sales gain. The 605,400 vehicles sold in Europe during the first six month were the most since 2011's first-half sales. Ford captured 7.9% of the European market for the half. The company also said June European vehicle sales rose 2.2% from a year earlier and it had 8% of the European market. Ford has introduced 15 new or refreshed vehicles in Europe since it announced a revamping plan in October 2012. The automaker has several more new models coming in 2014's second half, including redesigned Focus and Mondeo cars, Stephen Odell, president of Ford of Europe, Middle East and Africa, said in a statement. Ford rose to $17.43 at 3:50 p.m.