Ford Will Be First Major Automaker to Roll Into Myanmar

It will sell F-Series trucks and Ford Rangers

   

Ford Motor Company2 222x300 Ford Will Be First Major Automaker to Roll Into MyanmarAs Myanmar attempts to shed it authoritarian past and opens again to the world, global companies are moving into its market.

On Monday, Ford (NYSE:F) said that it will open a showroom and begin auto sales in the Southeast Asian country. Among the first Ford vehicles for sale in Myanmar will be its F-Series pickups and Ford Rangers, imported from its manufacturing plants in Thailand and North America, CNN notes.

Ford1 Ford Will Be First Major Automaker to Roll Into Myanmar
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Formerly known as Burma, Myanmar spent more than half a century under restrictive military rule. During that time the country cut off relations with most of the world. However, after a referendum in 2008, the country has taken steps toward democracy.

Myanmar has a population of about 60 million, but new vehicles are rare due to the country’s prolonged isolation.

Global consumer products makers have taken notice. Last year, Coca-Cola (NYSE:KO) announced that it would return to the country.

Other major manufacturers, including Caterpillar (NYSE:CAT) and General Electric (NYSE:GE) are also moving to expand operations in Myanmar.

Shares of Ford fell almost 1% in Wednesday morning trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/05/ford-will-be-first-major-auotmaker-to-roll-into-myanmar/.

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