Ford (F.NYSE) aims to capture 6% of the Chinese automarket by 2015, Bloomberg reported, quoting the company’s Asia-Pacific president. David Schoch said he believes Ford can reach that target by increasing auto sales from 30 million to 32 million annually by 2020. Schoch said Ford is boosting capacity in the region, spending US$4.9 billion (RMB30 billion) to double capacity and expand its lineup in China. Ford is playing catch up to Volkswagen AG (VOW.FRA, VOW.ETR) and General Motors (GM.NYSE), which both got an early start in the region. By 2020, Ford projects that more than 1 billion Chinese will be able to afford a car.
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