Ford ME posts 31pc rise in H1 sales
Dubai, July 27, 2010
Ford Middle East has recorded a GCC-wide sales growth of 31 per cent during the first six months of 2010 over the same period last year.
SUVs and trucks led the surge with 46 per cent increases, while cars posted 18 per cent growth in sales across the region driven by the new Ford Fusion and Taurus.
The company is strongly positioned and set to end the year on an upbeat following the arrival of new models in the third quarter, according to Hussein Murad, Ford’s director of sales in the Middle East.
The Middle East results reflect Ford’s strength globally with the company posting nearly $4.7 billion first half net income after tax, a $3.85 billion improvement over the same period last year.
Earnings per share rose to $1.13 during the first half of 2010, up by $2.03 compared to the same period in 2009. Ford Motor Company’s second quarter income after tax was registered at $2.6 billion, an increase of $338 million against $2.2 billion in the second quarter of 2009.
In the Middle East, SUVs continued to be favourites among Ford vehicles, with 97 per cent increase in sales for Expedition, followed by Explorer at 83 per cent and Flex at 58 per cent while Ford F-150 led the truck sales with 486 per cent over the same period last year.
In the passenger car segment, Fusion led the growth, recording a 105 per cent sales increase in first half. Additionally, the all-new Taurus, although in short supply, was up by 75 per cent. Ford’s legendary Mustang also continued to increase in popularity, with sales growing by 16 per cent.
"This has been an exceptional half year for Ford in the region, and we anticipate sustained growth," said Murad.
"Thanks to new products we’ve introduced - and our visible commitment industry leading quality, safety, technology and value for money across the Ford marque - our customer base is growing at an unprecedented pace, and we are gaining market share. Ford's global success story is clearly rippling across all of our markets," he added.
In Saudi Arabia, sales were up by 56 per cent, thanks to hefty gains from sales of Expedition at 159 per cent, Explorer increasing by 144 per cent, Fusion by 91 per cent and Taurus by 57 per cent.
Qatar follows with 22 per cent increase year-on-year and UAE recording a rise of 15 per cent. Kuwait enjoyed robust sales in Explorer posting an increase of 70 per cent and a 55 per cent increase for the all-new Taurus.
The same bright picture is seen in the US, as Ford Motor Company reported a first half sales increase of 28 per cent versus a year ago, with June sales alone up by 15 per cent.
"Our growth here and globally confirms the success of Ford’s transformation plan," said Murad. "We are enjoying strong business not only because of the quality products in our line up but also due to the ongoing commitment of our dealers.”
Ford plans to introduce several new models into the region in 2010, including the new Mustang V6 and V8 models, and the all-new crossovers Ford Edge and Lincoln MKX. – TradeArabia News Service