Ford CEO: China auto market is sustainable

AP News
Posted: Sep 26, 2011 5:06 AM

Ford's chief executive says the growth of China's auto market is sustainable as the company looks to launch 15 new vehicles by 2015 in the country.

Alan Mulally said Monday that China is a sustainable market with the country's leadership focused on keeping inflation in check without derailing economic growth.

Ford made a comeback last year with $6.6 billion in profit, its biggest in 11 years. Now the company is looking to invest further in Asia. Last weekend it broke ground for the construction of a $350 million transmission plant in the southern Chinese megacity of Chongqing.

China is the largest car market in the world. Last year, sales of passenger vehicles in China, excluding large buses, jumped by a third to 13.7 million vehicles.