Ford outsells Hyundai in China with capacity expansion, new cars
SHANGHAI (Bloomberg) -- Ford Motor Co. outsold Hyundai Motor Co. in China for the first time, closing in on its target to rank among the top-three international auto makers in the world's biggest marketplace.
Ford's revenue increased 9.4% to 296,825 automobiles in the 3 months ended March 3 1, while Hyundai's deliveries dropped 2 percent to 282,305 throughout the same span, according to information supplied by the businesses.
That puts Ford behind Volkswagen AG, Gm and Nissan Motor Co. in terms of revenue volume in China.
Car companies are rushing to expand output capacity in China, tempted by millions of first-time purchasers and replacing demand.
Ford started its fourth passenger car assembly plant in the state last month and intends to take-over and update another manufacturing plant.
The U.S. auto-maker will unveil a new Taurus sedan at the Shanghai auto-show this month, portion of the 1-5 new versions it's vowed to introduce in the state. The Taurus is going to be designed, constructed and sold in China just.
Hyundai is also enlarging generation. The South-Korean auto-maker started building its fourth plant in China this month, and has plans to construct a fifth after in 2013.
When finished, the business is going to have the capacity to make 2.7 million automobiles a year in China, compared with 1.05 million models now.
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