Ford to add 100 new dealerships in China
- Source: Shanghai Daily
- [08:22 November 26 2010]
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Ford Motor is adding 100 new dealerships in China this year, raising its total number of outlets to 340, as it courts new car buyers in provincial cities.
Like other major auto makers, Ford is looking to emerging markets for growth lost in the United States and other traditional strongholds. It expects 70 percent of growth in its sales to come from the Asia-Pacific and African regions over the next decade.
Ford inaugurated 40 new dealerships yesterday out of 66 it will open before the end of the year. In 2010 it plans to have opened a total of 100 dealerships.
China's car market is the world's biggest and sales are growing fastest in the provincial cities as the benefits of the country's economic boom spread from its east coast to the interior where millions of new and potential car buyers live.
"When you think about China, it's the central, western and northern areas that will see the most aggressive growth," Joe Hinrichs, president of Ford, Asia Pacific and Africa, and chairman and CEO of Ford China, told The Associated Press in a phone interview.
Ford is forecasting record sales in China this year, though it got a later start and has a smaller presence here than rival General Motors Co.
The auto maker earlier reported its China sales in January-October surged 39 percent to 468,754 vehicles.
"It's been an interesting year, with a very strong first quarter and fourth quarter, though sales slowed down a bit in the summer. It's a bit of a 'U' shape," Hinrichs said.
