Residual values for the Ford Mondeo in Germany have climbed ahead of the Volkswagen Passat and even premium models such as BMW and Mercedes-Benz for the first time, a top executive claims.

Ford's European vice-president of marketing, Earl Hesterberg, said the manufacturer was delighted its models were performing well against the country's domestic brands.

Speaking at the Geneva Motor Show, he said: 'We're very proud that in Germany, Mondeo has residual values of 70% after 12 months. They are ahead of the Passat for the first time and represent a major turnaround compared with the old model.

'We're doing even better in the estate segment, where we have 76%, which is even ahead of BMW and Mercedes-Benz.'