Ford backs out of Japan
Ford Motor Co has announced that it will withdraw from the Japanese and Indonesian markets by the end of the year.
It says the nature of each market makes sales or make sustained profits difficult, pointing to the fact that it sold just 6,100 units in Indonesia last year and only 5,000 in Japan.
Ford spokesperson Neal McCarthy said, ‘Japan is the most closed, developed auto economy in the world, with all imported brands accounting for less than six per cent of Japan’s annual new car market.’
Neal adds that the 12-nation Trans Pacific Partnership trade agreement works against Ford’s ability to trade in those markets, and that car sales in Japan are expected to decline in the coming years.
