Ford-Werke AG, the German subsidiary of Ford Motor Co., posts a narrower financial loss in 2001, but still missing its breakeven target for the year. The unit has been trying to boost its diesel and new product offerings in an effort to take share from Volkswagen AG.

Ford-Werke says it lost E80 million ($70 million) in 2001, compared with a loss of E171 million ($149.5 million) in 2000. Sales rose 3.2% to E16.3 billion ($14.2 billion) during the year.

Separately, Ford-Werke AG announces the appointment of Bernd Rose as its new chief financial officer. Rose replaces Gerhard Klein, who is leaving Ford.