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Old 10-30-2004, 08:31   #1 (permalink)
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China: To import U.S.-made Ford Mavericks

China to import U.S.-made Ford Mavericks

Associated Press

SHANGHAI -- Ford Motor Co. will start exporting its Maverick sport utility vehicle to China under an agreement between Beijing and Washington intended to boost U.S. exports, the second biggest American automaker said Friday.

The SUVs, produced at a Ford plant in Kansas City, Mo., will be priced at 288,000 yuan ($34,850) each and will be sold through more than 100 Ford brand retail dealers in China, the company said in a statement.

The policy will help

The Maverick, introduced in China in July 2003, previously was sourced from Taiwan and sold in China for 428,000 yuan ($51,800).

The plans are part of a deal for China signed during a buying mission to the United States in November 2003 to buy more U.S. products.

China also promised to buy cars and auto parts from General Motors Corp. and DaimlerChrysler AG.

The “buy USA” deal is part of efforts to trim the United States’ soaring trade deficit with China, which last year hit $124 billion -- an all-time high for any country -- and is expected to reach $140 billion this year.

The preferential policy doesn’t give the car makers a break on import tariffs, but it allows them to bring in the cars without import permits.

While import permits in China aren’t expensive, only a limited number of them are usually issued to trading companies, and consumers hoping to buy imported cars often acquire the permits on the black market where they can sell for as much as $12,000.

Ford said last year it could send 5,000 vehicles, mostly SUVs, to China under the agreement.
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