Ford steps up competition in China's sedan market
Updated: 2007-11-09 14:34
Ford was a relative latecomer into the Chinese market, establishing the Chang'an Ford Mazda Automobile Co. (CFMA) joint venture in southwest China's Chongqing Municipality last year.
CFMA was the merging of Japan's Mazda Motor with Sino-U.S. carmaker Changan Ford, which was established in 2001 and produced the first Chinese-made Ford sedan, the Fiesta, in 2003.
The joint venture was China's tenth largest sedan producer in terms of sales in the first three quarters of this year, according to the China Association of Automobile Manufacturers.
China is the world's fastest growing car market with retail sales of 490,474 vehicles in October, up 21.3 percent from October last year.
Sales of passenger vehicles, including sedans, multi-purpose and sport-utility vehicles, were reported to be 4.86 million units in the first 10 months, a rise of 22.1 percent from the same period last year.
Last month Volkswagen China president Winfried Vahland said VW was planning to increase its market share in China from current 18 percent to 20 percent. The company has increased its 2007 sales target from 800,000 vehicles to 900,000 and was anticipating more than a million sales in 2008.
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