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January 18,
2006
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Shanghai - Ford Motor Company reported a successful year of 2005 in China, featuring record sales volume, solid business expansion and launches of exciting new products. By leveraging the combined strengths of the company's portfolio of strong global brands, partners and various business units, the company is well poised to achieve its goal of becoming a top tier auto player in China in the next ten years. "For Ford Motor Company in China, 2005 represented a record year of sales increase," said Mei Wei Cheng, chairman and CEO of Ford Motor China, Ltd. "Despite the intensifying competition, we successfully maintained the strong growth momentum carried from 2004 by accelerating the pace of introducing new and upgraded quality products and services to meet market demands." Cheng said the estimated total sales of the Ford Motor Company's affiliated brands in China is over 220,000 units in 2005, exceeding the target number set for the year. The sales of Ford, Lincoln, Land Rover, Jaguar and Volvo brands hit a record 89,489 units. Each individual brand achieved significant growth over 2004, which is well above the domestic industry growth of an estimated 12 percent . Mazda brand vehicles also achieved a strong sales growth in China in 2005 based on its sales of 96,000 units in 2004. Confirmed numbers will be reported by Mazda Motor Corporation later separately. Ford brand vehicles , both imported and locally produced , achieved total sale s of 82,225 units, 46 per cent up from 2004. December of 2005 was the strongest sales month ever for Ford brand in China . Changan Ford Automobile Co., Ltd . (C hangan Ford ), the Ford Motor Company 's flagship joint venture with Changan Automotive Group (Changan Group) , registered record sales of 61,013 units, a 41 per cent increase from 2004. The locally made, all-new Ford Focus, which was launched in late September 2005, continued to be very well received by customers and won 27 major product awards by the end of the year. It has now become a leading player in the country's mid-size car market and is expected to contribute to the continued sales growth of Changan Ford in 2006. The distribution network of Changan Ford has also been expanding rapidly to meet the growing marketing and sales needs. By the end of 2005, the number of the authorized Ford brand dealers reached 150, a 50 per cent increase from a year earlier. On the commercial vehicle front, the Ford Transit series produced in Jiangling Motor Corporation (JMC), sold 18,000 units, a 48 per cent growth versus 2004 . Ford Motor Company, 30% owner of JMC, is pleased with the continued sales and financial successes achieved by JMC and plans to bring additional advanced products and technologies to support JMC to become a top commercial vehicle manufacturer in China . JMC's total vehicle sales in 2005 was over 70,000 units, including JMC branded vehicles and Ford Transit series, which is the best year ever for JMC. Sales of the imported SUV models continued to do well. Highly praised by Chinese customers for its great value and outstanding features, Ford Maverick was a top seller in China's imported SUV market in 2005. Lincoln Navigator, launched in May 2005, helped create a new niche market segment, named "President Class, full-size" SUV. Premier Automotive Group (PAG) of Ford Motor Company also enjoyed substantial growth in 2005 and delivered total sales of 6841 units. The growth rate of Volvo, Land Rover and Jaguar was 83 per cent, 107 per cent, and 220 per cent, respectively. New models, such as Volvo S40, Volvo XC 90 Executive, Land Rover Discovery 3, Range Rover Sport, 2006 Range Rover, Jaguar XJ8L Sovereign, and Jaguar XJ6L Sovereign, were successfully launched in China in 2005. These models are enthusiastically pursued by many high-end Chinese consumers due to their well-established premier brand images in all sophisticated markets around the world. Worldwide, China is the fastest growing market for Land Rover and the second fastest growing market for Jaguar. To support Ford Motor Company's strong sales growth in China , Ford Motor Credit, named Ford Automotive Finance ( China ) Co., Ltd (FAFC) in China, started business operations in July 2005. By leveraging its global resources and expertise, FAFC is expected to provide sound financial services to both dealers and individual consumers of Ford Motor Company's affiliated brands in China . In 2005, a majority of Changan Ford's dealers have signed agreements with FAFC on wholesale inventory financing services. The retail financing to individual consumers was carried out in Beijing and Shanghai in 2005 and will be expanded to other major Chinese cities in 2006. "We're quite confident of our sales growth potential in China ," said Mei Wei Cheng. "Ford Motor Company as a whole is capable of providing a comprehensive and competitive portfolio of products and services to meet the growing and diversifying needs of Chinese consumers. " Calendar year 2005 also witnessed several milestone steps forward in Ford Motor Company's efforts to expand its business operations in China. By working closely with its partners in China, Ford Motor Company delivered the $1 billion plus investment plan of business expansion announced by Chairman and CEO Bill Ford during his visit to China in October 2003. In October 2005, Changan Ford's Chongqing plant completed the expansion of its annual capacity to 150,000 units, up from 50,000 units . The new production line s installed there, on which the all-new Ford Focus is being produced, fully meet the high standards of Ford Motor Company's Global Quality Operating Syste m and are flexible enough to build more new and diversified products in the future. In April 2005, Ford Motor Company, Changan Group and Mazda, jointly commenced the construction of a new vehicle assembly plant in Nanjing as the second manufacturing base of Changan Ford. With an initial annual capacity of 160,000 units, the advanced and highly flexible manufacturing facility will produce both Ford and Mazda brand cars. By first half of 2007, with further planned expansion s in Chongqing and the operation of the new assembly plant in Nanjing, Changan Ford's combined total production capacity will be approximately 360,000 units-an 18-fold increase from just four years ago. Adjacent to the Nanjing assembly plant, the three-party joint venture Changan Ford Mazda Engine Co., Ltd. broke ground in September 2005. As one of the largest and most sophisticated engine manufacturing facilities being built in China , the engine plant is planned with an initial annual capacity of 350,000 units and can produce both Ford and Mazda brand engines. To be operational in 2007, the engine plant is expected to supply world-class engine products to the three partners' vehicle assembly business in China. " These expansion projects will lay a solid foundation for our further growth in China, " said Mei Wei Cheng. "They are also expected to demonstrate the strength of the enterprise approach we're now taking in China, which enables us to achieve efficiencies and synergies by leveraging the strengths and best practices among our multiple partners, brands, skill bases, and locations." Cheng said Ford Motor Company is progressively expanding its capabilities, products, sales network, service network, and talent base in line with its goal to become a top tier player in the country's auto market in the next ten years, consistent with the company's global strengths and ranking. Looking into 2006 and beyond, Cheng noted that Ford Motor Company will further accelerate its business development in China by building stronger operations and providing Chinese consumers with more new and exciting products. "We're quite confident that Ford Motor Company as a whole will again see a significant growth in total sales volume in China in 2006, reflecting our strong products, expanded dealer network, and strong support by Ford Automotive Financing China," Cheng said. Ford's history in China can be traced to 1913, when its first Model T was imported and sold in Shanghai . Presently, Ford owns 30% of the shares of Jiangling Motors Corporation Ltd., which produces Ford commercial vehicle Transit and other products. Ford Motor Company also has a 50-50 passenger car joint venture with Changan Automotive Corporation Ltd., which is called Changan Ford Automobile Corporation Ltd. Changan Ford has successfully launched two Ford passenger cars models, Fiesta and Mondeo, to the market. Ford Mondeo has won Motor Trend "2005 Car of the Year, China ". Its third product, the all-new Ford Focus, will be built in Chongqing starting from 3 rd quarter 2005. In early 2005, Changan Ford's second passenger car plant in Nanjing starts construction. On April 19, 2005 , Ford, Changan and Mazda announced a new three-way engine plant joint venture, Changan Ford Mazda Engine Company Ltd.. (January 16, 2006)
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