BEIJING (Reuters) - Ford Motor Co (F.N) plans to introduce vehicles in China that will be priced below its current low-price Fiesta model, the company’s chief of Asia operations said on Monday.
“We do believe that the Ford brand has even more potential to offer value products for these markets like the tier-3, 4, 5 cities, so we have some plans in place to do that,” Joe Hinrichs, Ford Asia chief, told reporters at the Beijing auto show.
“We believe the Ford brand has the capability to go a price point lower than Fiesta,” he said. He didn’t provide specific details.
Ford makes the Fiesta, Focus, Mondeo and other vehicles in China in a three-way tie-up with Chongqing Automobile Co Ltd 000625.SZ and Japan’s Mazda Motor Corp. (7261.T).
Hinrichs’ reply came in response to a question about whether Ford would make a joint venture brand with Changan.
The Fiesta model in China sells in a range equivalent to $12,300 to $17,500.
The same lower pricing could be applied to other emerging markets in Asia-Pacific, Africa and elsewhere by taking advantage of single model platforms for global sale, he said.
Reporting by Ben Klayman; Editing by Ken Wills