Asia Pacific To Have 2 Billion Car Buyers By 2020

David Schoch, President of Ford Asia Pacific, was speaking to the media last week when he stated that Ford expects to see 2 billion c...

David Schoch, President of Ford Asia Pacific, was speaking to the media last week when he stated that Ford expects to see 2 billion car buyers in the region by 2020. He attributed this number to those who are just coming of age and beginning to earn enough disposable income to purchase their first car.

“In China today, about 75% of our buyers are first time buyers,” Schoch revealed. 

Ford’s focus in emerging markets is presently centered in China, where a total of 21 million cars are expected be sold this year. Ford expects sales to increase to 32 million by 2020, making it an even larger market than Europe and USA combined. Thus far, the company’s efforts to build more plants and connections with Chinese dealerships have resulted in a doubling of Ford’s market share in China.
Ford's car plant in Nanjing
image: CBS Detroit

 In 2010, Ford had 14 asssembly and powertrain plants in the Asia Pacific region; by 2015, they will have 23. This region presently contributes to 41% of car sales; it is expected to rise to 46% by 2020. Much of this growth is expected to come from China.

Meanwhile, General Motors and Volkswagen are still ahead in the China game due to their early entry, but according to Schoch, Ford is catching up fast. Ford foresees that SUVs and luxury vehicles will be the main contributor to sales in China. As such, Ford will be launching the Lincoln brand in China in the next few years.

Related

The Pirelli Calendar: through the years

Since it’s the Pirelli Calendar’s 50th anniversary this year and we have just featured pictures from the upcoming edition of the coveted annual publication, we decided to do a bit of digging into i...

No more fuel subsidies for Malaysians

In a surprise move, the Malaysian government announced on Friday that it will finally end the decades-long fuel subsidy for RON95 petrol and diesel effective 1 December 2014 onwards. The government...

Hamilton claims 2nd world title after Abu Dhabi victory

Lewis Hamilton bagged his second F1 world championship title after wining the Abu Dhabi GP. Entering the finale with a 17-point lead, Hamilton only needed a second place win to clinch the title d...

Post a Comment

emo-but-icon
:noprob:
:smile:
:shy:
:trope:
:sneered:
:happy:
:escort:
:rapt:
:love:
:heart:
:angry:
:hate:
:sad:
:sigh:
:disappointed:
:cry:
:fear:
:surprise:
:unbelieve:
:shit:
:like:
:dislike:
:clap:
:cuff:
:fist:
:ok:
:file:
:link:
:place:
:contact:

sponsored by

Hot in week

Hot in week

Connect With Us

item