Ford Sees Big Future in Affordable Small Cars

Ford believes that the future of the global automotive marketplace will include smaller and less expensive vehicles.

Speaking at a roundtable interview during the 2014 Detroit Auto Show, Ford CEO Alan Mulally said he believes compact cars like the Fiesta will make up a larger share of the global auto industry, including the U.S. As vehicles become more expensive , the automaker expects to see a shift toward smaller vehicles in the U.S. that are also cheaper.

Ford cited data that by 2025, the number of urban cities with more than 10-million people, will increase from 23 to 27. Mulally stressed in the interview that the industry as a whole needs to find ways to lower price points in order to make vehicles more affordable.