Boston, MA, 11/14/2013 (wallstreetpr) – The U.S. second largest automaker Ford Motor Company (NYSE:F) has refreshed its idea of a global car. If a Reuters report is anything to go by, the company intends to make spirited foray into emerging auto markets with a redesigned global Ka. The company’s executive Alan Mullay was in Brazil to showcase the concept. The new global Ka is a four door, five-passenger small car that is just the thing that emerging markets is looking as it accommodates the family.
Brazil is a key market for Ka, no wonder Ford chose to unveil the concept there. The global Ka is intended for such markets as South America and South Asia. The car will have a starting price of around $10,000 and $12,000. The redesigned Ka will be available in Brazil starting next year, after which it will be introduced to other target global markets. China also seems to rank high among Ford’s targets for its Ka, so perhaps the next stop for the Ka sale would be China after Brazil. Ford has been seeking to improve its profitability in the emerging markets and Ka is seen as a step in the right direction. The company’s CEO states that Ford is looking to improve its position in markets where it has historical not done well.
With the entry into the small, low-cost car market for the global drivers, Ford expects to cut its operation costs. In addition, the automaker expects its global sales in this segment to grow 35% in five years. This will exceed the forecast for the whole industry which is 12%. The company expects South America and South Asia to absorb 44% of its global Ka production. Similar car model will be available for North America and Europe but feature some tweaks.
Arriving at the Ka concept has been a look into the company’s own earlier strategies in creating a global car. The Ka model also draws inspiration from such companies such as Kia Motors, Maruti Suzuki India and Hyundai Motors, the Ford’s CFO Bob Shanks said.
