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FORD UNVEILS NEW PRODUCTS AND ANNOUNCES FORD CREDIT COMPANY OPENING IN JAPAN

 /ADVANCE/TOKYO, Oct. 20 /PRNewswire/ -- A strong array of new products, lower prices on imports from the United States and the opening of a credit company for dealer and customer financing are the latest signs of Ford Motor Company's (NYSE: F) intensified participation in the Japanese market, Ford chairman-elect Alex Trotman said here today.
 Speaking at the Ford exhibit on the opening press day of the 1993 Tokyo Motor Show, Trotman stressed the importance of Asian markets to Ford's future.
 "To maintain our position as the second-largest automotive manufacturer in the world, we must have a significant share of the market in this region," Trotman said. "Within the next several months, we plan to start selling the right-hand-drive (RHD) U.S.-built Ford Probe and European-built Ford Mondeo in Japan, as well as the new purely American 1994 Ford Mustang in LHD form -- all of which are here in Ford's Tokyo Motor Show display.
 "We intend to aggressively pursue sales success by marketing top- quality, high-value products through a strong sales network, at increasingly competitive prices," said Trotman. "Ford has been reducing prices of its imported vehicles in Japan for the last few years, and we're now to the point where our prices are more competitive with Japanese domestic vehicles and lower than imports from other foreign manufacturers."
 Trotman also mentioned that Ford Motor Credit Company will start doing business in Japan in January 1994. A wholly owned subsidiary, Ford Credit Japan, is being established to extend wholesale (inventory) financing to Autorama dealers, Ford's primary distribution channel in Japan, and retail financing to customers.
 Trotman added that Ford continues to believe Japanese government actions are needed to increase market access if there is to be meaningful growth in the sales of imported vehicles, which would contribute to a reduction in the massive trade imbalance between the United States and Japan.
 "A major barrier to our developing additional dealer outlets in Japan has been the inability of U.S. manufacturers to obtain franchise agreements with dealers of the Japanese manufacturers," Trotman said. "While we are told there are now no barriers to access, dealers still may be uncertain about possible reprisal by Japanese manufacturers."
 Trotman concluded by recognizing that, until there are stronger results, there will be no way of judging Ford's seriousness, but emphasized that Ford is "committed to succeeding" in Japan.
 -0- 10/20/93
 /CONTACT: Hiroo Tanabe or Ken Brown in Tokyo, 81-3-5470-2629, or Judith Muhlberg or John Emmert in Dearborn, 313-322-9600, all of Ford/
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CO: Ford Motor Company ST: Michigan IN: AUT SU: PDT

KE -- DE024 -- 4087 10/19/93 15:00 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
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