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Ford may shift away from cars in Europe

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Ford is redirecting spending in Europe away from cars to focus on more profitable crossovers and commercial vans to help return its operations in the region to profit.

Hit by Brexit and a big consumer switch to crossovers, Ford’s European operations swung to a $73 million pretax loss in the second half from an $88 million profit last year.

Announcing the results on Wednesday, CEO Jim Hackett said: “We're extremely dissatisfied with our performance in Europe.”

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