Ford looking at record growth in the Chinese market
US based automotive giants Ford Motors are looking at record growth in the automobile sales in the Chinese market. The company has claimed that they sold 82,225 of its own-brand vehicles in China in 2005. This is almost a 50% improvement in sales compared to the year before that. Ford benefited a lot by launching newer and more up-to-date vehicles in 2005 leading to improved sales.
The company is yet to release the sales figures of their subsidiaries selling cars in the Chinese markets like Mazda. Ford however said that its overall affiliated brands sales had surpassed an estimated 220,000 units last year. Fordâ€™s announcement of these improved sales comes just days after their domestic rivals General Motors reported similar improvement in sales in the Chinese market.
Both Ford and GM are struggling to compete against the Japanese companies in their home markets. Interestingly, they are performing better and better in their overseas markets. However, in the US, both these automobile industry giants are soon expected to announce further job cuts and closure of loss making manufacturing plants.
Mei Wei Cheng, chief executive of Ford Motor China Ltd. added his views on this improved performance in the Chinese market: “We’re quite confident that Ford Motor Company as a whole will again see a significant growth in total sales volume in China in 2006, reflecting our strong products, expanded dealer network and strong support by Ford Automotive Financing China.â€
China has also become the worldâ€™s second largest automobile market in the world by overtaking Japan last year. The market grew by as much as 21 percent last year with sales crossing 4 million cars.