Ford experienced strong sales and growth in many of our regional markets in 2012.
Despite overall Company financial progress in 2012, the business environment in Europe remains challenging, with industry-wide sales hitting a nearly 20-year low in 2012. In response, we outlined a European transformation plan, including actions to increase cost efficiencies, address manufacturing overcapacity and strengthen our brand.
For a discussion of our global economic impact and financial health, please see the Financial Health section.