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

Article by Christian A., 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

Recommended

Volkswagen of America has a nice surprise for potential customers of the new VW Tiguan (2018 model year). The latest iteration of the Tiguan – set to arrive in the...
by - May 25, 2017
Toyota Camry is many things but exciting isn’t one of its frequent descriptions. That’s why throughout the years, Toyota has been stepping up its game for the said model in...
by - May 25, 2017
Volkswagen intends to leave the crowd in awe at the Worthersee Meeting (Wortherseetreffen) – the largest VW and Audi car show in Europe – with its new GTI Worthersee concept. ...
by - May 25, 2017
The much-hyped 2018 Dodge Challenger SRT Demon certainly has attracted a lot of attention, and possibly many potential buyers. Now, here is good news for interested customers: Dodge has finally...
by - May 25, 2017
An RHD (right hand drive) BMW M4 DTM Champion Edition has been listed to be for sale by Romans International, UK’s leading supercar dealership. The first owner of this rare...
by - May 24, 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