Ford 2003 Annual Report Download - page 7

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2003 ANNUAL REPORT 5
A MESSAGE FROM THE CHAIRMAN
gases and other emissions across our entire range
of vehicles. Addressing air pollution and climate
change issues effectively and transparently is a
key element of our product development plans.
Looking ahead, we expect to have continued
improvement in our business operations around
the world in 2004.
●Our North American operations will benefit
from an improving economy and the many
new products we will introduce in the fall.
●We anticipate improvements in the overall
market in South America, and an increase
in our market share.
●In Asia, we project that our profits and
share will improve with the help of major
new investments in the region.
●We anticipate a dramatic improvement in
Europe in 2004, due to business restructuring
and new products.
●Our Premier Automotive Group will introduce
14 new or revised models in 2004, and benefit
from greater discipline in the execution of our
premium brand strategy and resource sharing.
Longer term, I believe our outlook is excellent if
we continue to focus on operational excellence
and concern for our customers and their world.
Emerging markets, led by Asian countries, will
experience 90 percent of the growth in automotive
sales volumes in the next 10 years. I visited our
Asia-Pacific operations last October and came
away more impressed than ever by the potential
for major growth there. We have plans in place to
be much more aggressive in driving that growth,
including expansions of our manufacturing
capacity in China, Thailand and the Philippines
that will strengthen our presence throughout
the region.
In the so-called “mature” markets dramatic growth
will not be found in sales volumes, but in revenue.
In the next 10 years these markets, primarily North
America and Europe, will account for 65 percent
of worldwide automotive revenue growth as
customers move up to vehicles with higher
prices and larger margins. Ford Motor Company
is already the leading seller of luxury vehicles
in North America. As increasingly prosperous
consumers seek more features, functionality
and luxury, we will be ready for them with an
exceptional selection of premium vehicles.
There are still many challenges ahead of us as
we begin our next 100 years. Competition in the
automotive industry is intensifying, with more
market segments and more new products than
ever before. At the same time, new technology is
driving rapid change in products and processes.
And leadership in operational excellence is a
moving target as companies continue to
improve in all areas.
But we have many advantages to build on as
we face these challenges: the strongest portfolio
of brands in the world; an exceptional heritage
that has given us a special connection to our
customers; an experienced and stable management
team; and a dedicated and talented extended
family of employees, suppliers and dealers. We
are uniquely positioned to do great things and
become an even greater company.
Our goal is to be the best automotive company
in the world.
Thank you for your support of our efforts.
William Clay Ford, Jr.
Chairman and CEO
March 11, 2004
Ford Focus
Lincoln LS Ford GT
EDITORIALpg1_7 3/26/04 9:46 AM Page 5