Ford Credit Cards in Chinese Restaurants and Auto Dealerships
Ford Motor Company is an American automaker headquartered in Dearborn, Michigan, United States of America. It was established by Henry Ford and began manufacturing automobiles and other automotive products under the Ford name in 1903. Under its umbrella, Ford operates a vast range of businesses, all aimed at providing their customers with the most reliable, value for money, and best quality vehicles and parts. As a major manufacturer, Ford caters to both used and new vehicles for sale. It also sells performance and concept vehicles through its subsidiary brands. All these operations are conducted out of the main Ford manufacturing plant in Detroit, Michigan.
Currently, Ford is into three segments – trucking, passenger vehicle, and the automobile market. While it caters mainly to truck buyers, it also has some segments specifically targeting the passenger market such as the Ford QVM or personalized driver training segment. The auto industry is also one of the areas that Ford intends to enter with its new Ford EQC. The automaker is planning to expand its offerings beyond its current offerings in order to strengthen its foothold in the auto industry.
Ford has already launched several vehicles over the past few years, but it failed to gain significant market share despite these launches. Its first attempts at launching vehicles such as the Ford Fiesta, Ford Focus, and Ford C-MAX may have been hit by fierce competition from its biggest competitor in the segment. However, it retained its core position in the compact car segment, which is where it intends to concentrate its efforts in the coming years. With the advent of the highly lucrative automotive engineering field, the demand for better and more efficient vehicles is on the rise.
To meet the increasing demands, Ford is planning to launch several hybrid vehicles over the coming years. In fact, Ford has already launched one, the Ford EBC, which is a hybrid SUV. This vehicle uses a variety of technologies such as fuel-cell technology, powertrain combination, and hybrid energy. It is, however, not a pure hydrogen vehicle. The Ford Motor Company has already launched several hybrids vehicles such as the Ford Trivia, Ford Fusion, and Ford C-MAX.
However, the market for electric vehicles is extremely limited, so Ford is considering expanding its electric vehicle platform. Moreover, the company has revealed that it will launch five more new models in the next few years. These will be the Ford C-MAX, Ford Fiesta, Ford Focus, and Ford CCX. All these models will use advanced lightweight materials, fuel-saving technologies, and electric motor strategies. The manufacturing of these vehicles is expected to start in the coming months.
Ford is also working on a new concept vehicle that will offer up to double the cargo space of its current models. The new offering will be offered in several markets across the world, including Europe, Asia Pacific, and North America. The name of the vehicle is supposed to be “FC Fusion.” No official word has come out yet regarding whether or not this model will hit the markets for the production year 2021. In the meantime, we can expect to see Ford’s SUV offerings in at least one of the previously announced markets: Mexico, Japan, South Korea, and Taiwan.
While we wait for Ford’s first venture into the automotive industry, the automaker is enjoying great success in selling cars in Asia. According to a recent report in the Asian Financial Times, Ford has sold nearly five hundred vehicles in China so far this year. This is considerably more than the hundred vehicles sold by Ford during the same period last year. If these numbers are confirmed, then the automaker may be setting new records in its quest to expand its global presence. With Chinese consumers become more affluent, selling cars is a sure bet.
So, is Ford going to ride the automotive wave to bigger profits? Although the financial analysts are not yet ready to confirm any of the above, it is safe to assume that Ford will enter the next phase of its global expansion like no other company before. Although China is a fast-growing automobile market, it is not exactly the most lucrative. But with its partnership with China Mobile and other local auto brands like EDC, there should be no shortage of Ford credit cards in Chinese restaurants and car dealerships anytime soon.