Jun 7, 2011
Ford Motor Company (NYSE:F) said on Tuesday that it expects global sales to rise 50% by 2015 to 8 million vehicles annually, driven by rapid expansion in Asia and Africa as well as strong growth in sales of small cars.
Last year, Ford sold 5.3 million vehicles globally, predominantly in the U.S. and in European markets.
In contrast, the company's share in China, now the largest motor vehicle market by volume, is just 2.4%, while rival GM's share is 10%.
Ford is building a new plant in the city of Chongqing, China, with joint venture Changan Ford Mazda Automobile Co, and plans to set up a new engine plant there as well.
The company currently sells the Focus compact and Fiesta subcompact in China, but it plans to introduce 15 models and double the number of dealerships in the country to 680 by 2015.
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