On Monday, Ford—the giant automaker—has released a new compact mid-sized SUV model “Territory” in China—the world’s biggest auto market, followed by the U.S.—to hike its continuously declining sales records.
The model is designed especially for the customers in small cities across China which are developing very fast. Jiangling Motors—Ford’s Local Partner—contributed to the development of the SUV model “Territory”.
Chairman and CEO of Ford China, Peter Fleet said that Ford has started the attack of its new vehicles over the automobile market. The company has developed its best-customized model as per customers’ requirement regarding the best comfort, safety, style, and other demonstrative options in the vehicle.
According to sales records of Ford from the year 2015 to 2017, there is a sharp increase in the midsize SUVs sales of around 102% in the Chinese automobile market.
The vehicle is installed with various features admired by Chinese customers including Mandarin voice recognition feature, which can understand the language with multiple regional accents.
After the few days from an analyzed report posted by the U.S. automaker that in China automobile sales for September 2018 is declined by 43% as compared to September 2017 sales, Ford announced the release of the model.
Jeff Schuster— president of LMC Automotive, a firm tracking the auto industry— said that the annual sales of light vehicles of Ford have declined for the first time in the last 20 Years. As a part of China, Ford is also struggling in the automobile market. Declining sales are due to the increasing trade war between the U.S. and China, fading consumer confidence, slowing down of the property market, and falling stock prices.
For 2018, the Ford annual sale is expected to be low by 33% as compared to 2017 sales.