Ford Motor Co.
) is planning to launch over 25 new vehicles in the Middle East and
Africa region by 2016. The automaker revealed details of its
expansion plans in the region in a 'Go Further' event it organized
Apart from such launches, Ford will introduce several vehicles
from its global portfolio in the region. These include the latest
models of Ford Mustang, Focus, Fusion and Figo. Ford Fusion will be
launched in the Middle East this year and Africa next year, while
Mustang and Focus will be introduced in the Middle East and Africa
in 2015. Ford will introduce 17 new or revamped vehicles in South
Africa in the next 2 years.
Moreover, Ford will introduce several new technologies in the
region, including its EcoBoost engines, SYNC in-car connectivity,
inflatable rear seat belts, active park assist, active city stop,
adaptive cruise control, blind spot information system with
cross-traffic alert, rear view camera, lane-keeping system and
various other driver assist technologies.
Ford expects industry sales in Middle East and Africa to grow
40% to 5.5 million vehicles by 2020. The automaker intends to take
advantage of the growing market to increase its sales in the small,
mid-size and large vehicle segments.
Effective Jan 1, 2014, Ford created the new Middle East &
Africa business unit to capitalize on the growing importance of the
Middle East and African markets. The unit covers the company's
automotive business in 47 Ford markets in the North Africa,
Sub-Saharan Africa, South Africa and Middle East regions. The unit
is divided into two sub-regions - South Africa and Sub-Saharan
Africa, and the Middle East and North Africa - for efficient
Ford currently carries a Zacks Rank #3 (Hold). Better-ranked
automobile stocks worth considering include
Automotive Systems Inc.
). All these stocks sport a Zacks Rank #1 (Strong Buy).
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