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Ford to boost Russia output and launch Mondeo
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Ford Motor Co. said it would grow output in Russia to 125,000 cars per year by 2009 from 72,000 to satisfy the booming demand in Europe's fastest growing major car market, and which has been forecasted by PricewaterhouseCoopers to become Europe's largest car market by 2011 with sales worth $96 billion, informs a Reuters report.
Ford’s Russian factory makes the popular Focus model and will also launch production of its Mondeo saloon in a $100 million upgrade. Ford executives said they hoped to start expanding the plant next year near Russia's second city of St Petersburg, for a yearly output of 25,000 Mondeos and expand Focus production by 28,000 units.
 According to industry figures, Ford's car sales in Russia rose 122 percent only in the first half of the year to 82,000 units, and if that trend continues it could soon take over General Motors Corp. as the country's most popular foreign brand. Ford of Europe President and CEO John Fleming said after meeting regional officials that the Russian car market has experienced tremendous growth over the last several years, and Ford sees consumer demand continuing to rise for stylish cars. Ford moved early to set up production in Russia, where auto sales are booming thanks to the country’s economic boom and the growing availability of loan finance. Like other new entrants, it has profited from the decline of market leader OAO AvtoVaz, which still makes clunky Soviet-era models and the tax breaks offered to foreign car makers.
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