Ford Launches S-Max in China
Ford has invested more than $1.5 billion in China since 2003, as it plays catch-up with GM and Volkswagen.
March 16, 2007
Ford Motor Co. debuts its S-Max cross/utility vehicle in China in an attempt to compete with Honda Motor Co. Ltd.'s Odyssey minivan in the country's fast-growing multipurpose vehicle market, Bloomberg News reports.
The 2.3L S-Max is Ford's first CUV offering in China and retails between RMB219,800-RMB239,800 ($28,387-$30,970). The Odyssey is priced at RMB228,800-RMB274,800 ($29,549-$35,490).
Ford hopes to sell about 1,000 S-Max vehicles in China annually.
Ford has been working to establish a strong foothold in China, which now ranks as the world's second-largest vehicle market behind the U.S. The auto maker reportedly has invested more than $1.5 billion since 2003 in an effort to catch-up with sales leaders General Motors Corp. and Volkswagen AG.
Sale of multipurpose vehicles, which seat six passengers or more, reportedly rose 28% in the year's first two months.
Demand for the Focus last year led Ford to an 87% sales increase in compared with like-2005.
Ford says it plans to boost its annual China capacity to 410,000 units by the end of the year, helped by a new plant in Nanjing, located in eastern China. Another plant, based in Chongquing, in Southwestern China, started production in 2003.
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