The two companies' existing joint venture, Shanghai GM, is China's third largest carmaker with an 8.6 per cent market share. That company is enjoying a major sales boon in the country with its sales forecast to double this year to 110,000 on the back of a steady economic growth in what is potentially the World's largest car market. Clear leader in the market is Volkswagen, which produces 40 per cent of all cars in China.
- Volvo is also studying the possibility of producing cars in China, according to the China Daily newspaper. John Dirckx, Volvo Asia/Pacific Region president says that any Volvo initiative will depend on Ford's overall plans for China.