While the auto market in the US remains in the dumps, China’s auto market is on fire. Today’s example: Ford will build its third plant in China.
The new plant in China will have a capacity of 150,000 cars, adding to Ford’s Chinese capabilities of 447,000. Ford is a laggard in China compared to GM who is a leader.
Changan Ford Mazda sold a record 21,127 Ford brand models in August, up 111 per cent from a year earlier. Sales of Ford Focus, one of the top sellers in the mid-size car segment in the country, rose 58 per cent to 12,269 units in August, with sales of the all-new compact Ford Fiesta, which hit the market in March, coming to 4,539 units, according to company data.
Ford has not issued a forecast for its 2009 China sales, but Nigel Harris, head of sales and marketing for its China operations, told Reuters earlier this year the automaker expects to outpace the growth of the industry, which is estimated to expand at well over 20 per cent this year.
In 2008, Ford sold a total of 306,306 vehicles in China.
Business Insider Emails & Alerts
Site highlights each day to your inbox.