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Thursday, January 07, 2010

Ford Posted 44% Growth in China in 2009

Ford is looking for a stronger performance in China in 2010 after it experienced 44 percent growth in its China sales in 2009. The car maker sold 440,619 units in 2009, compared to 306,306 vehicles in the previous year. Ford now looks for more ground in the China market which is one of the biggest car markets in the world. In fact, the car maker built a new plant in China last year.

Chinese government is helping the auto industry of the country so that it can regain some of its strength lost through economic recession. Government has cut on sales tax for small cars and provides subsidy to the buyers. Overall, a number of auto makers have targeted China market very seriously and want to increase their share in China. In fact, there is forecast that Chinese auto market could see an 8% growth in 2010.

Related article:

reuters

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