NEW YORK (TheStreet) -- "It's too early to tell," Jim Farley, Ford's (F) newly appointed president of Europe, Middle East and Africa, said about how the impact of the Takata (TKTDF) airbag recall will affect the company. He told TheStreet TV that Ford is working with the National Highway Traffic Safety Administration to resolve the problem.
The company will act quickly to resolve the issues, Farley told TheStreet's Ruben Ramirez at the Los Angeles Auto Show.
Many are wondering when Europe will start to pay dividends for Ford. "We have a lot of work to do," Farley said. But he noted that the Ford team continues to do a great job and the company's new products are really resonating with Europeans.
The new models have helped Ford to boost its market share in the region. Europe is also important because that's where the automaker develops its small car models and commercial vehicles, he explained.
One of the most successful vehicle categories around the globe is the SUV -- it's red hot right now, and represents about one in five purchases, Farley explained.
In the U.S., about one in every three vehicle sales is an SUV these days, and Ford is the leading seller in that category for the country. China's SUV sales are "exploding" right now, he added.