Ford Motor Co. (F) is planning to launch over 25 new vehicles in the Middle East and Africa region by 2016. The automaker revealed details of its expansion plans in the region in a ‘Go Further’ event it organized in Johannesburg.
Apart from such launches, Ford will introduce several vehicles from its global portfolio in the region. These include the latest models of Ford Mustang, Focus, Fusion and Figo. Ford Fusion will be launched in the Middle East this year and Africa next year, while Mustang and Focus will be introduced in the Middle East and Africa in 2015. Ford will introduce 17 new or revamped vehicles in South Africa in the next 2 years.
Moreover, Ford will introduce several new technologies in the region, including its EcoBoost engines, SYNC in-car connectivity, inflatable rear seat belts, active park assist, active city stop, adaptive cruise control, blind spot information system with cross-traffic alert, rear view camera, lane-keeping system and various other driver assist technologies.
Ford expects industry sales in Middle East and Africa to grow 40% to 5.5 million vehicles by 2020. The automaker intends to take advantage of the growing market to increase its sales in the small, mid-size and large vehicle segments.
Effective Jan 1, 2014, Ford created the new Middle East & Africa business unit to capitalize on the growing importance of the Middle East and African markets. The unit covers the company’s automotive business in 47 Ford markets in the North Africa, Sub-Saharan Africa, South Africa and Middle East regions. The unit is divided into two sub-regions – South Africa and Sub-Saharan Africa, and the Middle East and North Africa – for efficient management.
Ford currently carries a Zacks Rank #3 (Hold). Better-ranked automobile stocks worth considering include Meritor, Inc. (MTOR), Gentex Corp. (GNTX) and China Automotive Systems Inc. (CAAS). All these stocks sport a Zacks Rank #1 (Strong Buy).
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