Industry production cuts of 1.5m to 2m vehicles in Europe that have occurred or are announced still leave output well above demand, Ford’s European chief Stephen Odell said.

The automaker estimated that Europe’s auto industry after those cuts are finalised will still be making at least 4m vehicles a year more than market demand.

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Odell told Reuters at Ford headquarters the automaker is maintaining its sales forecast of 13.5m vehicles in the 19 western Europe nations it traditionally tracks.

Ford sales in those 19 markets for June were 6.4% higher year on year while the overall industry saw a drop of 6.6%, Odell said.

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