A senior executive of the second largest US automaker has forecasted that Ford will mostly register growth across its corporate sales over the next decade in the Asia Pacific region, even as China is seeing a deliver slowdown this year.
According to Dave Schoch, president of Ford’s Asia Pacific region, the US carmaker will have increased sales across the region over the next decade even though the largest single market in the world, China, is seeing a growth slowdown this year. “When I take a look at Ford’s growth over the next five to 10 years, we believe roughly 60 percent of the growth will be in the Asia Pacific region,” commented Schoch. The group’s deliveries after the first three months of the year across the Asia Pacific zone have commended 6.8 percent of the company’s overall sales, at $2.3 billion. The senior manager believes China and India will be the growth engines, with China’s total industry sales reaching 32 million units in 2020 – after selling 23 million autos in 2013. India should also double its new car deliveries to 6 million autos over the same timeframe.
Schoch added that in China, even as the market slowdown has started to trigger alarms at numerous automakers, the market would continue to rise around 7 percent per year – Ford, GM and Volkswagen recently lowered sales prices across the Chinese market to cope with the slower growth. The executive also added they would not lower prices more, but lower production output to better suit market demands, even as Ford’s joint venture with Chongqing Changan Automobile is getting ready to take over and upgrade a northeast China plant in a $1.1 billion purchase that would see Changan Ford’s annual China output at 200,000 units starting next year.