5 Ways Ford Is Taking China Seriously
For the world’s leading automakers, winning the Western market is only one part of the game. Now that China is the biggest auto market on earth, coming up big in the Far East means just as much to a car company like Ford (NYSE:F). With GM (NYSE:GM) building Cadillacs in China and Tesla (NASDAQ:TSLA) hoping to open its first showrooms there this year, it’s clear the U.S. auto industry is waging fierce battle on a second front.
Ford is entrenched in China, and it appears the automaker will dig even deeper in order to double its market share there by 2015. Here are five ways Ford is treating China as a top priority.
1. The Focus Is a Corolla-Killer
What’s the best-selling vehicle on the planet? It depends whom you ask. Toyota (NYSE:TM) has the perfect case to make for the Corolla being top dog. However, since the figures from Polk research did not count Corolla models not called by the same name, the Focus won the prize for 2012. Ford clearly designed this compact car to take a huge bite out of its Japanese rival’s business in China, and it is winning with the Focus. According to a Bloomberg report, Focus sales rose 153 percent in China in the first quarter of 2013.