Asia:Ford may build luxury vehicles in China - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars
Ford Forum Ford Forum

» Auto Insurance
» Featured Product
ยป Wheel & Tire Center

Go Back   Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News
Register Home Forum Active Topics Photo Gallery Auto Loans Garage Mark Forums Read Auto Escrow

FordForums.com is the premier Ford Forum on the internet. Registered Users do not see the above ads.
Reply
 
LinkBack Thread Tools Display Modes
Old 11-18-2003, 04:52   #1 (permalink)
Registered User
 
Stacy94PGT's Avatar
 
Join Date: Feb 2001
Location: The Hills of North Georgia,USA
Posts: 7,859
Asia:Ford may build luxury vehicles in China

By Detroit News staff reports, Bloomberg News and wire services

TOKYO -- Ford Motor Co.'s Premier Automotive Group unit, which sells Volvo, Aston Martin, Range Rover and Jaguar vehicles, may make luxury cars in China to tap demand from the country's growing population of wealthy customers.

"We cannot ignore a billion people. China offers huge potential for each of the luxury brands we have," Mark Fields, head of Ford's Premier Automotive group, said in an interview.

Ford, which said luxury brands may contribute a third of its profit by 2005, is following General Motors Corp. and other automakers in trying to boost luxury car sales in the world's third-biggest vehicle market. Auto sales in China may rise by a third this year, the government said.

A decade of economic growth at an average 8 percent per year has created a generation of wealthy businesspeople in China and easier financing is encouraging more people to buy cars. China has 210,000 millionaires in U.S. dollar terms, according to Cap Gemini Ernst & Young's 2003 World Wealth Report.

Bayerische Motoren Werke AG started making 325i cars in northeastern China last month. General Motors will begin making Cadillacs in Shanghai next year. DaimlerChrysler AG's Mercedes Benz unit plans to make C-Class and E-Class cars in Beijing. Volkswagen AG's Audi unit, which competes with Ford's Volvo cars, makes A4 and A6 models in China and already has 40 percent of the market.

"If we did local assembly, it would offer us the opportunity to more competitively price our products versus the competition," Fields said. "Any pursuit of local manufacturing would be done in concert with the larger Ford enterprise, utilizing their existing assets."

Even as incomes in the top bracket climb, wages for most Chinese are among the lowest in the world. The hourly pay for a Chinese manufacturing worker is 61 cents, rather than the $16.14 paid in the U.S., according to a study by economists at the Federal Reserve Bank of Dallas.

Ford, which last month said it will spend $1.5 billion to expand production in China, makes Fiesta and Mondeo passenger cars in Chongqing city in the country's southwestern Sichuan province.

It may begin its luxury car production with Volvo cars and Range Rover's Land Rover sport-utility vehicles, Fields said. The company now sells imported Volvo and Land Rover models in China and will shift to local assembly once sales numbers are high enough, Fields said. Ford also makes Aston Martins.

"Our new plant in Changan is state-of-the-art, the kind of plant you expect to find anywhere that Ford operates," said Ford Chairman William Clay Ford Jr. at an interview in Beijing last month. "The plant can be used to make our premium products if needed."
__________________
Stacy94PGT
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.

My next Ford.....
Stacy94PGT is offline   Reply With Quote
Sponsored Links
Advertisement
 
Reply

  Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Asia:Ford to invest up to $1.5 billion in China expansion Stacy94PGT Ford Worldwide News 1 10-18-2003 03:52
Tsb: 2002 Explorer Sport Trac LunaticSVT Ford Escape | C-MAX | Mercury Mariner Forum 0 07-15-2003 14:27
Ford Product-Led Transformation: 2003 RPO83 Trans | Driveline 0 07-22-2002 06:48
Mass luxury: As automakers push cheaper models, they risk endangering brand value Stacy94PGT Ford Worldwide News 0 07-02-2002 07:06
World's automakers recatch 'China fever' at Beijing auto show Stacy94PGT Ford Worldwide News 0 06-13-2002 07:58

Powered by vBadvanced CMPS v3.2.2

All times are GMT -7. The time now is 13:20.



Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0
Garage Plus vBulletin Plugins by Drive Thru Online, Inc.