Ford Sees 10% Global Growth (F)

John Fleming, head of Ford's F global manufacturing, said he sees 10% global growth in the car industry this year. In a report on Marketwatch, Fleming said, "We see the economy improving, but the strength of the recovery in individual markets has been uneven". Fleming went on to say that conditions are improving in the U.S. and Europe, despite "weak labor markets and tight credit". This would hurt the recovery short-term, but he expects these economies to eventually recover over the long-term. Fleming went on to warn that Europe will likely be a drag on global growth due to last year's successful scrappage programs that inflated results, especially in in Germany. "Our business and success in our business is ultimately about product," Fleming said, and the company is ramping up is product portfolio as a result of strong demand. Shares of Ford are up 11 cents this morning to trade at $11.91