Ford: Continued growth due to North American market recovery
Refreshed model lineup includes aluminum-bodied F-150
Ford's profit depends on North America
The North American automobile industry continues its strong recovery as the solid economy leads to improved consumer confidence, which is due to the replacement demand and attractive incentives. Ford has benefited greatly from this recovery where sales in North America were chiefly responsible for a consolidated pre-tax profit of USD 8.6 billion in 2013.
To release 23 new models worldwide
In 2014, Ford will release a total of 23 fully or partially redesigned models in the global market and substantially renew its product lineup. In North America, Ford will introduce 16 fully or partially redesigned models. These models will include the F-150 (full-size pickup and the most profitable model in North America), Transit (full-size commercial van), MKC (compact sport utility vehicle (SUV) which is expected to be the core model for expanding the sales of the Lincoln brand), and the sporty Mustang. In China, it aims to further expand its sales with the Escort, an automobile developed specifically for China.
Profit in 2014 declines slightly due to lineup renewal
Although the revamp of Ford's product portfolio will lead to increased competitiveness in the coming years, the automaker forecasts its consolidated pre-tax profit for 2014 to be between USD 7.0 billion and USD 8.0 billion, which is less than that of 2013. This is because the factory downtime, associated with the remodeling, has been prolonged, reducing the number of wholesale units. Costly market introduction is another factor.
To expand sales in China and India
Ford considers Asia to be the most promising market for future growth. LMC Automotive forecasts that Ford's global sales volume of light vehicles will continue to increase and reach seven million units in 2017. Most of the sales expansion is expected to take place in the Asia Pacific, especially in China and India.
* Ford: "One Ford" Strategy continues to sustain favorable results (Mar. 2014)
* Ford China: Sales up 46% in 2013, up 59% in first two months of 2014 (Mar. 2014)
North American International Auto Show 2014:
* Ford takes risks with new ideas for redefined Ford F-150 and Ford Mustang
Beijing Auto Show 2014:
* Ford unveils Escort, Everest and MKX concepts