LONDON (ShareCast) - US car giant Ford expects to incur a 500-600m dollar loss in Europe this year as the crisis continues to hurts the auto market, Chief Financial Officer Lewis Booth told the Wall Street Journal (WSJ).

Nevertheless, Booth reiterated the company's overall forecasts for 2012 helped by strong sales in North America. "We feel OK about the guidance we've given for the total company," Booth said.

The company expects earnings to be in line with the $7.8bn of 2011, excluding extraordinary accounting gains.

Booth pointed out that vehicle sales in Europe appear to be heading to the low end of Ford's annual sales forecast, which called for total sales of 14-15m vehicles in the European market this year.

In the fourth quarter of 2011, the US car company registered a $190m loss in Europe.

M.D.

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