Ford expects China sales to grow by 5-10pc this year

SHANGHAI, April (The Economic Times): Ford Motor Company expects overall China vehicle sales to grow 5 to 10 per cent this year from a year earlier, its China CEO said Monday. Joe Hinrichs, who is also head of Ford's Asia-Pacific and African operations, said Ford would remain focused on its own brands in China but would be in close touch with its joint venture partners on whether to develop specific brands. "In China we're expecting 5-10 per cent growth this year. For us it's a sustainable level of growth, it's predictable and we think it's the right level of growth," Hinrichs told the news agency in an interview ahead of the opening of the Shanghai Auto Show. On Monday, Ford unveiled three new electrified vehicles and technologies in Shanghai. Ford said last week it would bring 15 new vehicles, double its dealerships from 340 and add 1,200 new jobs in China by 2015, as it seeks to catch up with rivals' bigger presence in the world's biggest auto market.