Thursday, December 26, 2013

Ford Could Nearly Double Its Market Share in China by 2015

By Sarfaraz A. Khan and Gohar Yousuf

The U.S. automaker Ford (F) has recently released its U.S. sales numbers for the month of November. Overall sales in the region grew by 7% from prior year to 190,449 units while retail sales rose by 9% to 147,021, which is the highest level for retail sales since November, 2004. Passenger cars sales grew by 6%, while its best-selling pickup in the U.S., the Ford F-Series, delivered another strong performance with a 16% year-over-year increase in sales. In its most recent quarterly results, Ford reported a 12% increase in revenues to $36 billion due to higher sales in the U. S. and Asia Pacific, which offset the decline coming from Europe. In China, the world’s biggest auto market, the company is aiming to increase its market share from 3.2% in 2012 to 6% by 2015. The company will face increasing competition from General Motors (GM) as well as Japanese rivals, but Ford can deliver on its promise due to its massive expansion plans.

Strong Performance In China

Ford was a late entrant to the Chinese market, which is dominated by General Motors as the biggest foreign player in China. By the end of third quarter, Ford enjoyed a ... read full article at GuruFocus