43% Q1 growth for Ford in the GCC
Ford's successful transformation plan is in full gear in the Middle East as the company closes the first quarter of 2010 on a high note, with an outstanding 43 per cent growth over the same period last year across the GCC, while the industry is estimated to have grown by about 5 per cent.
Hot off the heels of a successful year worldwide where the company posted a net income of $2.7 billion in 2009, Ford – the only one of the Big Three U.S. automakers that did not opt for a government bailout in 2008 – yet again outperformed the regional industry in the first quarter of 2010, and the momentum is upbeat moving forward according to Hussein Murad, the company's director of Sales in the Middle East.
"This has been an outstanding quarter for Ford in the region, and we are thrilled to see the momentum continue from where we left it end of 2009," he said. "Our customer base is growing at a rapid pace as we continue to gain market share, and Ford's success story is evident today more than ever across all our markets," he said.
"This growth confirms the success of our transformation plan and how it is reflected in our region," he added. "Our business is becoming stronger thanks to the ongoing commitment of our dealers, and of course thanks to the outstanding new products that we have launched recently that clearly set the trend for what to expect from Ford Motor Company in terms of industry leading quality, safety, technology and value for money," Murad added.
Ford's GCC growth was mainly driven by demand across the range of Ford, Lincoln and Mercury products, with nearly 30 per cent increase in passenger cars, led by the all-new Fiesta, Fusion and Taurus while utility vehicles were up by nearly 60 per cent across the range with star performers across the SUVs and crossovers alike.
In Bahrain, passenger cars led the growth with Ford Fusion registering double sales over Q1 last year. Old-time favourite Mustang and the newly-launched Ford Taurus also saw significant sales during the period. Other growth markets from the region included Saudi Arabia and Qatar which registered a 75 per cent increase over Q1 last year. In Kuwait, trucks and SUVs recorded a 40 per cent hike thanks to all-time favourites Explorer, Expedition, Mountaineer and Navigator, while the all-new Fusion and Taurus models proved to be among the favourites in the passenger car lineup.
"Customers more and more witness the value that they get from any Ford purchase. Not only do they realize that they are investing in award winning products that feature class-exclusive features and technologies, but they also see the difference in the actual ownership experience, across all the stages," he explained. "And what better proof of these achievements than a customer's vote with his wallet!"
Ford's product drive remains on track for 2010 with at least five new products making their way into the region, hot off the heels of the high-tech 2010 Taurus, and the mighty off-roader F-150 SVT Raptor and its new desert conquering 400hp 6.2L engine. The new 2011 Mustang leads these new launches with its new powertrains: the awesome 5.0L V8 with its 400+ net hp and the more economical 3.7L V6 with its 305 net hp output.