Ford Aims To Strengthen Hold In China Via 5 Launches In 2018
Zacks Investment Research | Apr 10, 2018 09:25PM ET
Per Reuters, Ford Motor Company (NYSE:F) launched five new vehicle models at an event in Chongqing, China. Expected to be available in showrooms by the end of 2018, the new models include hatchback and sedan versions of Focus ST-Line, Ford Focus and redesigned Ford Escort.
At present, Ford is grappling to restore sales in China, world’s leading auto market. In first two months of 2018, the company witnessed 23% decline in China sales. In order to regain sales, it has been launching new products. The recent launch is a fraction of its plan to introduce more than 50 recreated or new vehicles, including 15 electric cars, in China by 2025. During the same period, the company also aims to boost China revenues by 50% in comparison with the figure in 2017, via these new launches.
Per management, these new launches focus on the company’s commitment towards China’s midsize car market.
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