Ford Predicts Its Will Soon Have the World's Best-Selling Car
Ford Motor Co. (NYSE: F) says its Focus is on track to become the best-selling car in the world this year, knocking Toyota Motor Corp.'s (NYSE: TM) Corolla from the top spot.
Ford sold more than 489,000 Focus sedans and hatchbacks worldwide in the first half of 2012. That was almost 27,000 more than the Corolla. Ford sells the recently revamped Focus in more than 100 countries. It is a strong seller in the United States, where Focus sales were 31% higher in the first half of the year when compared with 2011. However, the Corolla outsold the Focus in the U.S. by nearly 27,500 in the first half of this year.
Ford made its prediction at its Focus assembly plant in Rayong, Thailand, where Ford executives also celebrated the production of the 350 millionth vehicle Ford has made since its founding 109 years ago. The plant opened in May and is one of Ford's most advanced, with the capacity to produce 150,000 cars per year for sale in Australia and other countries in the region.
Ford is up about 1% in premarket trading to $9.41. The 52-week range is $8.82 to $13.05, and the mean price target is $13.50. Toyota is down fractionally to $79.60, in a 52-week range of $60.37 to $87.15.
Filed under: 24/7 Wall St. Wire, Autos Tagged: F, featured, TM