ford Spain lost in its second year consecutively after recording Change of shareholder and exit from balance sheet in subsidiary in Mexico. The accounts deposited in the land registry show that, The company increased its turnover by 35% last year It goes from 5,553 million euros to 7,521 million euros. However, their losses increased by 75% to 34 million in 2021 and 61 million in 2022. The company is in the middle of changing its production model due to electrification of its models, and it made it official yesterday. Request for assistance from the Electric and Connected Vehicle Division (VEC).
45% production increase
Ford factory in Almussafes devotes 95% of its production to export. The Valencia plant produced 245,560 vehicles last year, compared to 168,426 units the previous year. 45% increase, according to calculations. This microchip crisis last year the company reduced its production capacity and had to offer a few ERTE. The Valencia plant produced 380,575 vehicles in 2028, 345,612 vehicles in 2019 and 235,344 vehicles in 2020 (at the time of the outbreak of the pandemic).
records
Regarding vehicle sales, The volume of Ford units registered in Spain is 44,790, this means a decrease of 4.8% compared to the previous year. As of December 31, 2022, Ford of Spain is a 68 dealer networksOwning 29 authorized facilities such as Ford Store. There are 196 authorized services in the secondary network, 170 of which are contracted with dealers to exhibit and sell Ford brand vehicles.
The company produced 73,287 Ford Transit Connect, 153,584 Kuga, 4,025 Mondeos, 8,512 S-Max and 6,152 Galaxy at Almussafes last year. It also produced 356,435 engines (24 percent more than the previous year), and of these 88% were exported outside of Spain.
Mexican subsidiary
One of the main influences on Ford Spain’s accounts, Change of shareholder in subsidiary in Mexico. In fiscal year 2022, there was a significant change in Ford Spain’s percentage of participation in Ford Mexico. Increases from 100% to 6%
Source: Informacion
James Sean is a writer for “Social Bites”. He covers a wide range of topics, bringing the latest news and developments to his readers. With a keen sense of what’s important and a passion for writing, James delivers unique and insightful articles that keep his readers informed and engaged.