Ford expects industrywide demand in Canada to rise 4 percent this year

Article by Christian Andrei, on August 29, 2010

In 2009, Canadian car sales dropped by 11% but for this year, Ford Motor Co. expects that the entire car industry would increase 4% this year as the economy slowly improves. In an interview at the Canadian International Auto Show in Toronto, David Mondragon, chief executive of Ford's Canadian unit, said that the company will still face "a challenging time."

He said that this year will be a "very turbulent" one and that the company doesn't expect a lot of growth this year when it comes to industry strength. Ford's Canadian sales rose by 6% and this widened its market share by more than 2 percentage points to 15.8%.

Ford, which began the year with more than 8 points behind General Motors Co., ended trailing by only 1.5 points. Ford had taken back the No. 2 spot in Canada from Toyota Motor Corp.

In 2009, about 1.46 million cars and light trucks were sold in Canada. The US market, on the other hand, fell 21% to 10.4 million. Mondragon explained that Ford was liquid enough to fund the launching of eight new vehicles in Canada this year.

Mondragon said that when Ford made money last year, it was the first time in a span of several years. He stated that the company now has a "very strong foundation" financially to move the business forward and that in fact, Ford is investing aggressively in new products.

Ford has been closing plants and cutting workers but currently, Mondragon says that it is just the right size. He said that the company has the capacity to make money in a much reduced industry compared to historical standards.

As a result, Ford believes that it has a "good footprint" to work from. As the industry increases, Ford sees the opportunity to grow in sales, shares, and profits as well.

Topics: ford, canada

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

BMW’s 550i xDrive has long been considered as one of the most successful business sedans in the world. For the brand, this may not be enough as it has officially...
by - January 20, 2017
Amazon is now moving beyond the four corners of online retailing. Only recently, the retail giant has been awarded a patent for its Road Network system. Since the patented technology...
by - January 20, 2017
The newest version of the Lamborghini Huracan is not a Superleggera, but a Performante. When Lamborghini filed for a patent for a new name, there were still debates whether this...
by - January 20, 2017
What is hotter and more menacing than a Hellcat? If we ask Dodge, its answer would be the “Demon.” Of course, we aren’t talking about a demon with horns and...
by - January 20, 2017
The 2018 model year could be an exciting year for fans and enthusiasts of the Chevrolet Corvette. This comes as the 2018 version of the Corvette is bound to feature...
by - January 19, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries