Ford Says It Can Obtain 6% China Market Share by 2015
Stock Chart for Ford Motor Co (F)
Ford Motor Co. (F) said it can capture 6 percent of the Chinese automotive market by 2015, David Schoch, president of the company’s Asia Pacific region, told reporters in Shanghai.
“I think we can get to that,” Schoch said. “This can be a turbocharged year for us to really kick us into high gear.”
Ford, the second-largest U.S. automaker, is spending $4.9 billion to expand its lineup and double production capacity in China, the world’s largest automotive market. The company, based in Dearborn, Michigan, is trying to catch up in China, after getting a later start there than Volkswagen AG and General Motors Co. (GM)
Schoch said Ford expects auto sales to expand to 30 million to 32 million annually by 2020. Ford projects there will be more than 1 billion people in China by that year who will be able to afford a car.
To contact the reporter on this story: Keith Naughton in Shanghai at firstname.lastname@example.org
To contact the editor responsible for this story: Jamie Butters at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.