Weak at home, Ford, Toyota turn to China market

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• [14:40 September 27 2009]
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Slated for full completion by 2012, Ford said the plant will be equipped to make other small cars on the company's global C-car platform in addition to the Focus.

Ford lags behind other automakers in Asia, capturing only 2 percent of auto sales there, compared with nearly 15 percent in North America and 10 percent in Europe.

Toyota's Funo, meanwhile, stressed the sales potential of an entry-level car in China, comparing it to how Japanese had snatched up the Toyota Corolla subcompact during the island nation's decades of modernization.

Like other major automakers, Ford and Toyota have been hit by the slowdown in mature markets such as the US, Europe and Japan. Toyota is expecting to lose money for the fiscal year ending March 2010. Ford has not had an annual profit since 2005.

Ford shares rose 10 cents to $7.43 in morning trading on Friday. US-traded shares of Toyota fell 45 cents to $81.78.