Ford Targets 50% Sales Growth
Things have been going well for Ford over the past few years with increased profits, sales and market share, but you haven’t seen nothin’ yet says CEO Alan Mually. Speaking this morning on CNN’s American Morning, Mulally said the automaker is looking to increase sales globally by an incredible 50 percent.
The plan to achieve this goal relies mostly on emerging markets, which Ford will target with an increasing number of small vehicles. According to Mulally, half of Ford’s global lineup will eventually be small cars. Over the next few years the Blue Oval will expand its Chinese lineup from five to 15 vehicles, while its lineup in India grows from three to eight vehicles. In total, Ford expects that by 2020 emerging markets in the Asia-Pacific region and in Africa will make up one third of its global sales, compared to just 15 percent now.
In addition, Ford will continue to rely on strength and growth in established markets. Currently global sales are down 30 percent from highs recorded before the recession, indicating there’s plenty of space to grow again.
Ford’s global sales tally for last year totaled 5.3 million units. If it can achieve a 50 percent growth strategy it would raise Ford close to the 8 million mark where Industry leaders like GM and Toyota sit.
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