Ford is launching a new, simpler sport utility vehicle in China as it looks to rev up its declining sales in the world’s biggest car market by competing head-on in price with domestic carmakers.
The new Ford Territory reflects efforts by automakers to capitalise on the growing popularity of SUVs in China, where rising standards of living are luring consumers increasingly towards more spacious, family-oriented vehicles.
The new model will feature a plug-in hybrid version and will be priced below Ford’s previous SUVs in China, where the cost of popular domestic brands such as Great Wall, China’s largest SUV maker, rarely exceeds $30,000. By comparison, the price tag for Ford’s current Explorer SUV is Rmb422,800 ($62,000).
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