Ford Motor Co. (F) recently inaugurated a new showroom, sales and service facility in Battaramulla in Colombo, Sri Lanka. The 6,000 square feet showroom has the capacity to display 12 vehicles, while the full-service facility has a 14 vehicle capacity.
Ford is aiming at increasing its focus on the Sri Lankan market. The company plans to expand its product line up and further enhance its after-sales services. Ford will also add four new service points to its network to enhance customer satisfaction.
The automaker displayed its vehicle line up during the inauguration of the facility. It also revealed that it will launch the new Mustang in Sri Lanka in 2015.
Ford is currently undergoing a massive industrial expansion. The company expects almost 60–70% of its global growth in this decade to be contributed by Asia-Pacific.
Moreover, the Asia-Pacific region is expected to generate about 40% of Ford’s vehicle sales in the next 4 to 5 years. The company forecasts global sales to expand by 50% to 8 million vehicles by 2015, given the potential for growth in Asia and the rising demand for small cars.
The automaker anticipates small cars to account for 55% of total sales by 2020. One-third of small car sales are expected to come from Asia.
Ford currently carries a Zacks Rank #3 (Hold). Some better-ranked automobile stocks worth considering are Fox Factory Holding Corp (FOXF), Gentherm Incorporated (THRM) and Tower International, Inc. (TOWR). All these stocks carry a Zacks Rank #1 (Strong Buy).
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