Ford CEO warns of European oversupply

|About: Ford Motor Company (F)|By:, SA News Editor

Ford (F) CEO Alan Mulally has warned about overproduction in Europe, saying that factory closures over the past year have not lowered capacity enough.

"European carmakers need to cut back further...as excess capacity on the continent remains at dangerous levels," Mulally says.

His warning comes despite sales on the continent starting to recover this year after falling by about 4M cars from 2007-2013.

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