Ford Motor Company unveiled today its 2020 Vision and as expected we have plenty of new subjects to reveal you folks. First of all would be that the American company wants to increase its global sales by 52 percent to 9.4 million vehicles sold annually by 2020. In order to achieve this impressive number, Ford aims to expand into markets such as Asia and invest heavily in its Lincoln luxury brand.
In the United States, Ford aims to sell 3.5 million vehicles in 2020, which is an achievable target as the company managed to sell 2.9 million vehicles last year. In addition, profit margins will also grow by 2020 from 8 percent this year to 10 percent.
Half of the projected global sales are attributed to industry grown, while the rest will come from new buyers but also from customers attracted from rival brands with new vehicles such as the aluminum-bodied Ford F-150, which is expected to give the company a “once in a lifetime” chance to conquest from competitive brands.
Due to the numerous recalls in the United States, which will cost about $500 million, Ford’s profit margins will be at the low end.
What’s more interesting is that Ford officially confirmed that the next-generation Super Duty will receive an aluminum-based architecture, a move expected to increase its sales and attract new customers as the annual sales of this nameplate is about half of the size of the F-150.
Moreover, the Lincoln luxury brand will receive a $2.6 billion investment by 2020, which involves the addition of two more vehicle to its lineup and annual sales of 300,000 units.
Ford CEO Mark Fields also outlined its five guiding targets, such as being one of the top five automakers when it comes to global sales, more balanced regional and segment profits, profit margins of 8 to 9 percent, being in top quartile of shareholder return and having a strong reputation. [source: Ford]