After Ford (NYSE:F) announced it had set its all-time records for March sales this year, and that the company held two of the three best-selling nameplates worldwide, even more good news followed for the automaker. Ford confirmed that it was rolling out a new EcoBoost engine for the popular Fusion line later this year, adding a fuel-efficient version that could win more customers in China and California markets.
The newest version of the EcoBoost engine is a twin-cam, four-cylinder 1.5 L model, its second-smallest to date. Encouraged by the sales reports in both China and California, Ford seems confident that its EcoBoost engines will continue to attract customers. By year’s end, Ford plans to have close to 80 percent of its automobiles running on EcoBoost engines, which are among the most fuel-efficient on the market. EcoBoost achieves its excellent economy through a combination of turbocharging, modified fuel injection and an innovative system of valve timing.
The California market is big for automakers, where Toyota (NYSE:TM) has performed strongly and one-quarter of U.S. electric car sales are recorded annually. While Ford’s hybrids are on pace for a record year in sales, its efficient gas engines could lure Chinese consumers via tax breaks, which will be available for Mondeo models equipped with the new EcoBoost system. The Ford Mondeo, debuting at a car show later this month in Shanghai, will be the first car to feature the 1.5 L engine…
If sales continue at this pace, Ford will have more than 1 million EcoBoost-powered cars in operation by the end of the year. Production-wise, the line will continue to grow. Six plants will be manufacturing EcoBoost engines by the end of 2013, compared to two in 2010. Further inroads are expected for the company in China with the new Mondeo, which will also debut in Europe by late 2013.
Ford stock dipped more than 10% ahead of this past trading week, reflecting difficulties for the company in Europe. However, it regained its lost ground throughout the week. Ford has the top-selling car worldwide with the Focus and a wildly popular F-Series truck line. With hybrid sales expected to reach all-time highs this year and more good news coming every week, it might time to be bullish on Ford.
Here’s how Ford and Toyota rounded out the trading week:
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