Printer Friendly

TROTMAN SAYS STRONG GROWTH IN ASIA CRUCIAL FOR FORD

 /ADVANCE/TOKYO, Oct. 21 /PRNewswire/ -- Strong growth in Asian markets, including Japan, is a crucial part of Ford Motor Company's (NYSE: F) business strategy, CEO-elect Alex Trotman told the Foreign Correspondents Club here today.
 "Ford is the No. 2 automaker in the world today," Trotman said at a meeting which was part of the opening days of the Tokyo Motor Show. "But it's also clear that we won't remain number two, if we don't participate actively in Asia where the greatest prospects for growth will occur."
 Trotman, who will become Ford's Chairman and CEO Nov. 1, said he spent time at the auto show and was pleased that observers seemed to be in agreement that importers into Japan's market, particularly U.S. manufacturers, were finally starting to be viewed more favorably.
 "There is increasing understanding of the effect of trade on jobs, on the generation of wealth and on the ability of companies such as Ford to have enough capital to invest," he also noted. "There is recognition that the advantage that Japan has had for so many years because of its essentially closed market in competition with its trading partners cannot be allowed to continue."
 Trotman described a large variety of programs that Ford has embarked on to increase it presence in Japan. These range from major import product introductions with lower prices in the coming year to the opening of a Ford credit company in Japan to handle both dealer and customer financing.
 "We're not short-termers," Trotman continued. "We have a carefully thought-out strategy for being successful participants here." He explained that while immediate attention was directed to Japan, Ford also had specific plans for increasing share in other Asian markets and entering new ones.
 -0- 10/21/93
 /CONTACT: Hiroo Tanabe or Ken Brown in Tokyo, 81-3-5470-2629, or Judith Muhlberg in Dearborn, Mich., 313-322-9600, all of Ford/
 (F)


CO: Ford Motor Company ST: Michigan IN: AUT SU:

JG -- DE027 -- 4687 10/20/93 15:04 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 20, 1993
Words:329
Previous Article:AIM 85 DECLARES MONTHLY DISTRIBUTIONFOR OCTOBER OF 15 CENTS PER UNIT
Next Article:3DI PRODUCTIONS INC. ANNOUNCES EARTH INVASION; THE FIRST TRUE WINDOWS MULTIMEDIA ARCADE-STYLE GAME
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters