Ford Motor recently announced its 2020 vision, which includes plans to substantially increase its global vehicle sales and automotive operating margin, and achieve more balanced geographic profitability.
Ford expects that its annual global sales will grow to approximately 9.4 million by 2020. During the same period, the automaker intends to improve its automotive operating margin to about 8%.
“Our long-term plan underscores the commitment we have to our One Ford plan, while accelerating our pace of progress, delivering product excellence and driving innovation in all areas of our business,” Mark Fields, Ford’s president and CEO, said in a statement.
Ford said that it continues expanding in new regions, and is working to match production to growing customer demand and achieve benefits of global scale. By 2020, the company projects its breakeven volume will be two-thirds of its wholesale volume.
“In 2015, we’ll take the next step in our long-term plan that calls for all parts of the Ford business to contribute to overall profitability,” stated Bob Shanks, Ford executive vice president and chief financial officer. “Although we face a variety of challenges as we approach 2015, we are well positioned for long-term growth in all areas of the business.”
Further, Ford said that it expects industry sales volumes to grow in 2015, with U.S. industry projected sales between 16.8 million and 17.5 million.
In China, Ford expects to increase sales to between 24 million and 26 million.
