Ford looks to regain ground on Honda and Toyota
San Francisco, CA -- (SBWIRE) -- 10/01/2012 -- As the second largest U.S. automaker, Ford was hoping to capture some of the market share enjoyed by the Toyota Motor Corp’s Camry.
The Fusion is in its third-generation, and Ford is surely hoping the new athletic design and general fuel economy will help the Fusion nab some needed market share. The company is losing more than $1 billion in Europe following downsizing and general cutbacks.
Simultaneously, Ford is dealing with the media frenzy that has occurred due to Chief Executive Alan Mulally being succeeded. Mark Fields, the North and South American head, is said to be promoted to chief operating officer, which makes him the heir apparent. However, Mulally has kept a tight lip about the details, and that as of now he is “pleased to continue to serve as CEO of Ford.”
The Fusion, a mid-sized sedan, has been dominated by Toyota and Honda in the past. The share of the market has dropped as of late, yet overall sales seemed to rise through the end of the summer.
“This is a transitional vehicle for our company,” J. Mays, Ford’s chief creative officer, said Monday night at an event in Miami Beach. He compared its impact to the 1955 Thunderbird, the 1962 Lincoln Continental or the 1964 Mustang.
The new Fusion comes with lane-keeping system that alerts drifting drivers, as well as a 1.6-liter turbocharged engine with an auto start-stop system.
“That’s been a key point in our turnaround and our success, we’ve really pushed on being a technology leader and making sure we bring those technologies to the mainstream,” said Raj Nair, Ford’s head of product development, at an event near Detroit.
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