Ford increasing production by 40 percent to 400K this year at Valencia plant in Spain

Ford Motor Co. is increasing its production by 40 percent at its plant in Valencia, Spain to 400,000 vehicles this year, amid continued signs of growth in the European car market.

Ford said in a statement Wednesday that a new state-of-the-art body shop, part of total investments of $2.6 million at the plant since 2011, will raise the daily production to 2,000 vehicles a day.

Ford produces six models, including the Mondeo wagon, Kuga SUV and Galaxy mini-van, at the nearly 40-year-old plantpot. Eighty-percent of Valencia's production is for export to 75 countries, including the United States.

The European car market grew nearly 6 percent in 2014 to 12.5 million vehicles after six straight years of contraction. European automakers are forecasting 2 percent growth in 2015.