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

The first time Porsche revealed the Panamera Sport Turismo to the public was during the 2017 Geneva Motor Show earlier this year. And now it has already entered production, and...
by - July 27, 2017
Autocar has got some juicy rumours for us regarding a new McLaren hypercar. The British publication has inside sources claiming that a new model will be added to the Ultimate...
by - July 27, 2017
Ferrari has recently launched the New Power15 extended warranty program. The company developed this program in response to the notion that supercars are very expensive to maintain. Truth be told,...
by - July 27, 2017
The UK it seems is about to take the same road as its neighbouring country France by banning sales of petrol and diesel vehicles beginning 2040. As reported by The...
by - July 27, 2017
What has BMW been up to lately? The company recently announced that they are currently focusing on electrification, and so far, their new architecture will enable “electrification of every model...
by - July 26, 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