Ford Motor (F.US) Sets New Sales Record in Middle East, Doubles Sales Since 2022
AInvestThursday, Nov 7, 2024 7:50 am ET
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Ford Motor (F.US) said it had an extraordinary year in the Middle East, with sales doubling since 2022. The automaker said its success was mainly due to strong growth in dealership market share in key countries such as the United Arab Emirates, Kuwait, Bahrain, Qatar and Saudi Arabia.Notably, Ford is currently the fastest-growing car brand in Saudi Arabia. In the first half of this year, Al Jazirah Automotive Agency and Mohammed Yousef Naghi Automotive Co. accounted for 57% of Ford's total business in the Middle East.Ford's momentum spans 15 different regions, including the launch of the 2025 Mustang Mach-E, the company's first full electric vehicle in the region. The Mustang Mach-E joins the F-150, Fusion and Ford Territory hybrid vehicles to further solidify Ford's commitment to providing a diverse electric product portfolio. The full-size Conqueror SUV is also popular in the region.Looking ahead, Ford plans to launch the FordPass app in the UAE first in 2025, accelerating the rollout of Ford Connected Services, and then expand to Saudi Arabia. Ford's plans in the region also include a new parts distribution center in the UAE to deliver parts faster to distributors, which is scheduled to open in January 2025."Our innovative product and service lineup demonstrates Ford's commitment to the customers, dealers, employees and communities in the Middle East," said Kay Hart, president of Ford Motor International Group.As of writing, Ford Motor was down 1.2% in premarket trading, while the company's stock closed up 5.57% on the first trading day after the US election.

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