EDITOR'S NOTE: The headline on this story has been changed to correctly indicate that Ford Motor Co. is willing to sacrifice market share for profit.
Ford Motor Co. is ready to sacrifice market share in Europe to concentrate on profits as its new-car sales slide with the end of scrappage incentives.
Ford was one of the main beneficiaries in Europe of government programs that paid owners to trade in old cars for new ones. But 10 months of consecutive year-over-year monthly gains ended in April, when Ford's sales fell 17 percent in the company's main 19 European markets. In May, Ford's sales fell 14 percent.
Ford of Europe CEO John Fleming said the division made the choice that profit is more important than share. "We can't give up on total market share," he said, "but we want to try and find the right balance so we can remain profitable this year and not dilute the brand."