Ford (F) Eyes Southeast Asia Market for Growth

Ford Motor Co. (NYSE:F) said it plans to increase the range of vehicles it offers in Southeast Asia as part of a larger effort to increase its market share in the region, with a goal of one new car launching there annually for the foreseeable future.

The push reflects increasing interest among multinational companies in Southeast Asia, which often took a backseat to faster-growing places such as China and India in recent years. It also represents a shift for Ford, which has been hamstrung by its relatively small roster of vehicles in the region, with much of its growth driven by sales of its Ranger truck, which is made for regional distribution in Thailand.

Now, with incomes rising in the region and a larger middle class developing, it makes more sense to expand product offerings, said Peter Fleet, president of Ford Asean, which includes Thailand, the Philippines, Vietnam and Indonesia.

The company has only about 2% of the market share in Asean markets, which is led by Toyota Motor Corp. (NYSE:TM) and a handful of other auto makers, and about 3% across all of Asia-Pacific and Africa.

"We have to raise our game" in places like Southeast Asia, Mr. Fleet said in an interview Tuesday. With so much of the industry's future growth pegged to Asia, Ford's global market share "is going to slide if we can't get a more respectable market share in these areas."

Ford was trading at $14.35, down $0.12, or 0.83 percent, as of 1:37 PM EST.




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