Ford Motor Co. (F - Analyst Report) recorded improved year-over-year performance in the ASEAN region in 2013. Retail sales increased 7% year over year to 95,906 units. The improvement was driven by better performance in Thailand, Philippines, Vietnam and Malaysia together with expansion in the emerging markets of Cambodia, Laos and Brunei.
Ford continued to focus on its One Ford plan in 2013. The automaker opened several showrooms across the ASEAN region and expanded its dealer network.
Ford reported full-year sales of 51,223 units in Thailand. The progress was driven by the high demand for its Ranger pickup, new Focus and the recently launched Fiesta.
Ford was one of the fastest growing automaker in the Philippines, Vietnam and Malaysia in 2013. Retail sales in Philippines augmented 41% to 13,285 units in 2013. Retail sales in Vietnam increased 71% to 8,177 units over the same time frame. In Malaysia, Ford sales surged 50% to 10,660 units. The automaker further expanded its footprint in the ASEAN region by entering Myanmar.
Ford also performed impressively in the emerging markets. Sales in Cambodia augmented 179% to 768 units and in Laos increased 184% to 680 units. Moreover, sales in Brunei jumped 184% to 565 units.
The solid performance of Ford in the ASEAN region was driven by its best-in-class vehicles. The new Ranger, which is manufactured in Thailand, recorded a 65% increase in retail sales in 2013 to 45,508 units. With this, it became the best-selling pickup in Vietnam as well as Ford’s best-selling nameplate in the ASEAN region in 2013.
Also, Ford Focus had record high retail sales in the region in 2013 with a 21% increase in sales to 9,690 units. Ford Fiesta recorded retail sales of 28,115 units. Fiesta benefited from the upgraded model equipped with Ford’s EcoBoost technology. Ford Everest SUV’s sales increased 24% to 5,700 units.
Moreover, Ford plans to launch the compact SUV – Ford EcoSport – in the ASEAN markets during the first quarter of 2014. This vehicle will be produced in the Ford Thailand Manufacturing facility in Rayong from this month. The automaker expects this new product to benefit the sales performance of the company in the region in near future.
The automaker worked toward enhancing its customer service in 2013 by expanding its dealer network in Thailand to 140 locations. Furthermore, it expanded its dealer network in the Philippines by 20% during the year.
Ford is one of the largest automobile producers in the world along with General Motors Company (GM - Analyst Report), Toyota Motor Corporation (TM - Analyst Report) and Honda Motor Co., Ltd. (HMC - Analyst Report). Currently, Ford has a Zacks Rank #5 (Strong Sell).