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Ford to Build More Cars in Russia
American automaker Ford Motors is considering increasing the volume of its production in Russia due to increased demand for its automobiles. That announcement was made by John Fleming, president and CEO of Ford of Europe. Ford sold 118,000 vehicles in Russia in 2006, and expects to top those sales this year and to introduce its Mondeo make on the Russian market.
Fleming noted that, if Ford reaches an agreement on the acquisition of Daewoo Motor assets belonging to the Romanian government, the company will have new opportunities for sales in Eastern Europe.
Ford entered the Russian market in 2000. Its plant outside of St. Petersburg makes 75,000 vehicles a year and supplies about half of the demand in Russia. The Ford Motor Co. lost $12.7 billion ($6.79 per share) last year, while it made a net profit of $1.4 billion ($0.77 per share) in 2005.
www.kommersant.com
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