Ford Motor Co. updated its Mondeo mid-sized sedan to entice consumers in China where it targets to more than double market share by 2015. According to Trevor Worthington, vice president of product development in the Asia Pacific region, Ford is bringing in the revamped Mondeo to China, at prices ranging from CHY179,800 ($29,400) to CHY265,800.
He said that Ford expects to post sales of between 70,000 to 110,000 Mondeos annually in China. Ford is targeting to post a 6-percent market share in China by 2015, and only controlled around 3 percent of the market in 2012, according to researcher LMC Automotive.
General Motors controlled 16 percent of the China market in 2012, while Volkswagen had 15 percent. Ford posted a 50-percent surge in sales in China in the first seven months of 2013, thanks to its efforts to expand its lineup as well as double its production capacity in the country.
Ford is banking on the updated Mondeo to challenge other carmakers’ offerings like the Volkswagen Magotan and Passat, Toyota Camry, Honda Accord, Nissan Teana and Buick Regal and Lacrosse. Worthington told Bloomberg that Ford sees the updated Mondeo as “being a volume player that appeals to a range of different people."
He noted that Chinese customers might be looking for unique requirements that perhaps buyers in the United States or Europe are not, adding that it is their job to make sure that from “an appearance, craftsmanship perspective,” all things are taken into account."Ford sold less than 70,000 units annually of the earlier versions of Mondeo in China from 2008 to 2012, according to data from LMC Automotive. Ford is selling Mondeo as the Fusion in the US.