Ford Motor Co.
) inaugurated its first authorized Ford dealership in Myanmar
with the opening of a 2,600-square-meter facility on Insein Road
in Yangon. The dealership will help the automaker expand its
presence in the rapidly growing Myanmar market. The facility
incorporates a 12-vehicle showroom and has a 12-vehicle servicing
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During the opening of the dealership, Ford displayed vehicles
that are already marketed in Myanmar, such as Ranger, Taurus and
Explorer. Soon, the customers in Myanmar will be able to choose
from the full range of Ford's cars, trucks and SUVs. These
vehicles will be imported from Ford's manufacturing units in
North America, Europe and Thailand.
Ford officially entered Myanmar in April via an agreement with
RMA Group and Capital Automotive Ltd. RMA Group operates in Asia
and Africa, while Capital Automotive Ltd is a subsidiary of
Capital Diamond Star Group, a market leader in Myanmar.
Ford's expansion in Myanmar complements the automaker's growth
strategy in the ASEAN region. The automaker is experiencing the
largest industrial expansion in the region and it expects the
Asia Pacific region to contribute 60% to 70% of its worldwide
growth by the end of the decade.
Ford also announced that the vehicles sold in Myanmar will have
manufacturer's warranty of either 5 years or 100,000 km traveled.
This will be among the highest warranty offered by any company
and will provide consumers with the best in class ownership
In addition, Ford has taken initiatives to increase its training
resources and bring technical experts to provide training in the
region. These experts will provide skill training to the
technicians, sales and service personal of the company.
Ford currently has a Zacks Rank #2 (Buy). Other major automobile
stocks worth considering are
Tesla Motors, Inc.
). All these stocks carry a Zacks Rank #2 (Buy).