Apr. 2 – Ford Motor Corporation has dominated headlines in emerging Asia recently; targeting the Indian small-car market with the launch of its Figo model on March 9, finally offloading Volvo to China’s Zhejiang Geely on March 28, and now reporting record sales in both China and India.
The U.S.-based auto company said on Thursday that its first quarter car sales in China saw a year on year increase of 84 percent to 153,362 units, largely on the back of its Changan Ford Mazda automobile joint venture. Ford’s recent success in China wasn’t attributable to one model in particular, but rather came as a result of increased popularity across a wide range of models. Sales of the Focus, Mondeo, and S-MAX models all increased between 47 percent to 56 percent last month while the Ford Fiesta broke its monthly sales record in China with 7,448 cars purchased.
“We are pleased that our continuing momentum helped get 2010 off to such an exceptional beginning,” said Ford Motor China CEO Robert Graziano, according to PR Newswire. “Chinese consumers appreciate the products developed under the ONE Ford plan and our efforts to provide a full product lineup of Ford vehicles that are class-leading in quality, fuel efficiency, safety, styling, and drivability.”
In a separate report yesterday, Ford reported a sales increase of 203 percent in India for the month of March compared with a year ago. The company’s March sales of 9,478 automobiles also marked a 194 percent increase over February.
The surge in automobile purchases was driven by the launch of the Ford Figo in early March which was very well received in India’s budget car market – receiving over 10,000 orders.
“The launch of Figo is the start of a transformed Ford in India, and a true reflection of our commitment to delivering world-class products that allow Indian customers to feel the difference,” said Ford India President Michael Boneham, Nasdaq reports.
The strong response to the Figo in India has caused Ford India to start a second shift of production at its US$500 million plant in Chennai.
Ford currently operates 164 dealerships across 97 cities in India, with ambitions to increase the number of facilities to 200 by the end of the year.
Related Reading
Ford’s Figo Hits India’s Small Car Market
China’s Geely Motors Finalizes Volvo Purchase
I’ve been kicking my self everyday for a while now. I should have picked up more Ford and been more confident about the company two years ago when it was trading below a dollar a share. Even with the minor pullback, I’d be more than ten times up! Oh well, I wish Ford the best. They are a remarkable company.