Ford Plans to Double Market Share in China This Year to 6% image

Ford’s Asia chef Dave Schoch is confident the company will double passenger vehicle share to 6% in the country in the next three years.

“Yeah, I think we can probably get there,” Schoch said to reporters ahead of the upcoming Shanghai auto show.

Last year Ford’s share of the Chinese auto market was 3% and the automaker relies on a collection of new products to increase the share to 6% over the next three years. Although Ford had a later start in the Asian country compared with the industry leaders GM and VW it reached a 3.6% market share during the first quarter, an increase from 2.5% in 2012.

Schoch said that Ford’s sales this year will continue to go up due to a new model offerings, such as the Kuga SUV, the Explorer large SUV, the EcoSport compact SUV and the Mondeo mid-size sedan. All these models will hit the Chinese market by mid-year. He added that the automaker also plans to reach a 7.5% market share in the following five years.

Passenger vehicles sales in China increased 13% in March, due to high discounts which increased demand. Last month wholesale deliveries of vehicles reached 1.59 million units, close to analysts’ estimations of 1.6 million units, according to the China Association of Automobile Manufacturers.