FORD TO LAUNCH SUV IN CHINA
‘Entry-level’ Territory is one of 50 new or redesigned vehicles planned for world’s biggest car market
FORD Motor said yesterday it will launch in China early next year a new “entry-level” sport utility vehicle (SUV) developed jointly with a local partner, as the United States carmaker attempts to revive its slumping business in the world’s biggest car market.
The Ford Territory, developed with Jiangling Motors Corp and available in three powertrain choices including a plug-in hybrid version, is intended to close a gap in its China strategy.
The new SUV is one of the 50 new or redesigned vehicles Ford has said it plans to launch in China starting this year and through 2025, which include the redesigned Ford Focus due to hit showrooms later this year.
It will make it possible for Ford to compete with indigenous Chinese carmakers such as Geely and Great Wall Motor that are pumping out hot-selling compact SUVs with competitive quality and lower price tags.
Ford did not discuss yesterday a specific pricing strategy for the Territory, but two individuals familiar with the new car said it would likely have a price tag of around 150,000 yuan (RM87,961).
The car puts the company in a segment it has never competed in before and which is witnessing surging demand from smaller, but fast-growing interior cities across China that indigenous Chinese carmakers have capitalised on to grow rapidly.
“Clearly this’s been a difficult year for Ford in China. But this new vehicle is part of our growth plan that will improve our business in China and return us to profitability,” said Ford’s Asia-Pacific and China chief Peter Fleet yesterday.
“This isn’t going to be an instantaneous turnaround, but you’re going to see a series of actions, a series of products and a series of moves that will return us to being a successful growth business in China.”