Asia Pacific To Have 2 Billion Car Buyers By 2020

David Schoch, President of Ford Asia Pacific, was speaking to the media last week when he stated that Ford expects to see 2 billion c...

David Schoch, President of Ford Asia Pacific, was speaking to the media last week when he stated that Ford expects to see 2 billion car buyers in the region by 2020. He attributed this number to those who are just coming of age and beginning to earn enough disposable income to purchase their first car.

“In China today, about 75% of our buyers are first time buyers,” Schoch revealed. 

Ford’s focus in emerging markets is presently centered in China, where a total of 21 million cars are expected be sold this year. Ford expects sales to increase to 32 million by 2020, making it an even larger market than Europe and USA combined. Thus far, the company’s efforts to build more plants and connections with Chinese dealerships have resulted in a doubling of Ford’s market share in China.
Ford's car plant in Nanjing
image: CBS Detroit

 In 2010, Ford had 14 asssembly and powertrain plants in the Asia Pacific region; by 2015, they will have 23. This region presently contributes to 41% of car sales; it is expected to rise to 46% by 2020. Much of this growth is expected to come from China.

Meanwhile, General Motors and Volkswagen are still ahead in the China game due to their early entry, but according to Schoch, Ford is catching up fast. Ford foresees that SUVs and luxury vehicles will be the main contributor to sales in China. As such, Ford will be launching the Lincoln brand in China in the next few years.

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