Subscribe free to our newsletters via your
. 24/7 Space News .




CAR TECH
Fifty years of Mustang cool: is China along for the ride?
by Staff Writers
Beijing (AFP) April 23, 2014


China to open new areas to private investors: Xinhua
Beijing (AFP) April 23, 2014 - China will launch 80 new pilot projects allowing private investment in areas previously dominated by state-run firms, official media reported on Wednesday.

The report follows an earlier Communist Party pledge to let markets play a greater role in allocating capital, seen as a key step towards rebalancing the world's second-largest economy to ensure sustainable growth.

The pilot projects cover areas including transport infrastructure, oil and gas pipelines, renewable energy and the coal, chemical and petrochemical sectors, Xinhua news agency reported, citing a meeting of the State Council, or cabinet.

"The move aims to accelerate reform of the country's investment," Xinhua cited a council document as saying.

"The projects will be open to public bidding, and the government encourages the participation of private capital in the construction and operations of those projects."

The Communist Party last year pledged to allow markets to play a "decisive" role in resource allocation, as the country's growth slows from the double-digit figures seen a few years ago.

State-owned enterprises (SOEs) have for decades dominated strategic sectors such as energy and telecommunications.

But analysts argue that investment flowing from state banks to government-run firms has led to large-scale misallocation of capital in recent years.

GDP grew at its weakest pace for 18 months in the March quarter, data showed this month, testing Beijing's resolve to implement reforms which could be a short-term drag on the economy.

Analysts have warned that reforms to the state sector could meet with a pushback from SOEs and some politicians, amid reports that the families of Chinese leaders have amassed vast wealth from investments in state firms.

From Steve McQueen to "The Fast and the Furious", the Mustang has long cruised through American pop culture, but Ford is hoping its snarling sports car will find a new generation of fans as it turns 50: in China.

Launched in 1964 at an event on top of the Empire State Building, the Mustang quickly became a byword for cool among America's youth, who loved the slick, highly customisable "pony car" that stood out next to their parents' bulky sedans.

Ford received 22,000 orders on its first day of sale in the United States, and exceeded 418,000 after one year, four times more than expected. Since then, more than 9.2 million have been sold.

When the latest Mustang was driven on stage by CEO Alan Mulally at the Beijing Auto Show on Sunday, its equine emblem -- the galloping free spirit of the American West -- struck a chord in the Year of the Horse.

Ford has already proved to be one of the biggest winners in the recent Chinese clamour for urban 4x4s, with sales of its locally-produced Kuga model soaring.

Now it wants to break into the equally crowded sports car segment.

- 'Crazy Freedom' -

Shanghai-based analyst Namrita Chow believes name and logo recognition will make or break Mustang in China. "The Chinese market is very brand-conscious," she stressed.

"At the moment, Mustang has no presence in China, so Ford is coming from zero... this is a strategy to raise brand-awareness, to prove it has different models (to offer) to its competitors," she added.

Trevor Worthington, Ford vice president, Product Development for the Asia-Pacific, told AFP he thinks the growling Mustang will resonate with young Chinese and their radically different outlook to the older generation.

"Chinese consumers are looking for iconic experiences," he said. "Mustang is one of those cars amongst all cars that make you feel freer."

The sports car already has a cult following in the country. Richard Guo, the mid-twenties founder of the Mustang Club of China, whose members drive imported versions, represents the kind of consumer Ford hopes to capture.

"Me and my friends, we are self-employed, without anything tying us down. The feeling of driving a Mustang is crazy freedom, of expecting the unexpected, which suits us," he said.

- Sign of the times? -

Ford saw its sales in China soar 49 percent in 2013, with nearly 936,000 vehicles sold, but it trails behind rivals General Motors (3.16 million units) and Volkswagen (3.27 million).

The firm has also opened three plants in China since 2012, with four more under construction.

In the next year, it will add no fewer than 15 new models to the Chinese marketplace, as part of an aggressive growth strategy taking it far beyond the Mustang's familiar North American territory.

"It's an iconic brand, and we decided that we're gonna take Mustang global," said David Schoch, Ford group vice president and president for Asia Pacific.

Who knows: in a society with the family still at its heart, but with increasing individualism at least at the level of consumer choices, the Mustang may yet prove to be a galloping success.

.


Related Links
Car Technology at SpaceMart.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





CAR TECH
China falls for 4x4s at Beijing Auto Show
Beijing (AFP) April 22, 2014
Bulky, brash and wildly popular in Europe and the US, the urban 4x4 is the latest must-have for Chinese drivers, whose conversion to the cult of the SUV is the talking point of this year's Beijing Auto Show. The SUV (sport utility vehicle), with a distinctive stocky frame, all-wheel drive and "rugged" image, has become equally coveted and ridiculed in the West in recent years, but is a recen ... read more


CAR TECH
NASA Completes LADEE Mission with Planned Impact on Moon's Surface

Russia plans to get a foothold in the Moon

Russian Federal Space Agency is elaborating Moon exploration program

Science, Discovery Channels to broadcast private race to the moon

CAR TECH
The Path to Mars

Meteorite studies suggest hidden water on Mars

Getting in Place for a Better View of Endeavour Crater

Mars' halcyon times may have been fleeting

CAR TECH
NASA's Orion Spacecraft Powers through First Integrated System Testing

Astronauts to grow lettuce on International Space Station

NASA Astronauts Will Breathe Easier With New Oxygen Recovery Systems

Veggie Will Expand Fresh Food Production on ISS

CAR TECH
China launches experimental satellite

Tiangong's New Mission

"Space Odyssey": China's aspiration in future space exploration

China to launch first "space shuttle bus" this year

CAR TECH
Dragon Cargo Craft Launch Scrubbed; Station Crew Preps for Spacewalk

Backup ISS computer breaks down, requiring possible spacewalk

No politics in space: ISS example of what Russia, US can achieve working together

Sakura tree grown in space blooms in Japan

CAR TECH
SpaceX Cargo Mission Launches to Space Station

SpaceX launches Dragon capsule to ISS

NASA Signs Agreement with SpaceX for Use of Historic Launch Pad

Russia will continue rocket engines supplies to US

CAR TECH
Continents May Be A Key Feature of Super-Earths

First Earth-sized planet found in 'habitable zone': NASA

Chance meeting creates celestial diamond ring

Faraway Moon or Faint Star? Possible Exomoon Found

CAR TECH
Thinnest feasible membrane produced

Chiral breathing: Electrically controlled polymer changes its optical properties

Better thermal-imaging lens from waste sulfur

Rapid solidification of undercooled ternary Co-Cu-Pb alloy profiled




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.