{"text":[[{"start":9.35,"text":"Ford has renewed its strong commitment to Europe with plans for a successor to its best-selling Fiesta model and four other new locally made passenger vehicles as it seeks to reclaim sales lost to Chinese rivals."}],[{"start":22.1,"text":"The US carmaker said it would begin manufacturing a new Bronco compact sport utility vehicle in Spain from 2028, as well as two small electric vehicles using the platform of its partner Renault. One of those models would be the successor to the Fiesta, according to a person with knowledge of Ford’s plans."}],[{"start":40.45,"text":"More than 22mn Fiestas were sold after the model launched in 1976, and it remains the UK’s best-selling used car despite production ending in 2023. "}],[{"start":51.400000000000006,"text":"Ford also plans to launch two further multi-energy crossover models by the end of 2029."}],[{"start":58.050000000000004,"text":"“We will be operating in the core 80 per cent of the European market,” Ford’s European boss Jim Baumbick said at the FT’s Future of the Car summit last week. “But the goal is not just to play everywhere. It’s very surgical, very purposeful to target specific customers . . . in a way that’s sustainable.” "}],[{"start":76.2,"text":"The product offensive marks a pivot for the carmaker following a series of restructurings and job cuts to stem losses from its European business."}],[{"start":84.9,"text":"Ford pared back its offering in the region due to slowing demand to focus on more profitable areas of the fiercely competitive market. This included pulling out of the small car segment once dominated by the Fiesta. "}],[{"start":97.10000000000001,"text":"It lost market share to BYD, SAIC-owned MG and other Chinese brands that have rapidly increased sales with affordable EV and hybrid offerings. "}],[{"start":106.15,"text":"Ford’s market share in the EU and the UK fell to 2.8 per cent in the first quarter, from 3.5 per cent in the same period last year. BYD’s share more than doubled from 0.9 per cent to 2.1 per cent while SAIC held 2.3 per cent, according to European car industry body Acea. "}],[{"start":127.35000000000001,"text":"Robert Forrester, chief executive of Vertu Motors, one of the UK’s largest car dealers, said the group was excited about the new product launches that include a small car: “You’ll be surprised how loyal British customers are to Ford. They’ve got a very, very good reputation.” "}],[{"start":144.85000000000002,"text":"As part of efforts to compete with Chinese rivals, Ford in December announced a partnership with France’s Renault to jointly produce small electric cars and vans. "}],[{"start":154.65000000000003,"text":"The group is also in talks with China’s Geely regarding the use of spare production capacity at its plant in Spain and a technology partnership in which both companies could build vehicles on the same platform, according to people with knowledge of the talks. "}],[{"start":168.80000000000004,"text":"Baumbick said in an interview on Monday that the partnerships would give Ford the scale it needed to compete against the cost strength of Chinese rivals. “I think it’s really important for us to figure out — and we believe we have — how to actually generate scale in Europe for Europe,” he added."}],[{"start":184.95000000000005,"text":"In addition to its passenger car business, Ford said it would expand Ford Pro, its commercial fleet management operation, to small businesses for the first time."}],[{"start":194.85000000000005,"text":"The business has been one of Ford’s few bright spots, leveraging vehicle data to improve productivity, maintenance and repair services for customers, who pay a subscription to access the information generated across their fleets."}],[{"start":218.95000000000005,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1779103394_9936.mp3"}