• New Management Team Comes Out Fighting, Making Waves in the High-End Market
• Reorganization of Management Unveils New Pattern for China 's High-End Auto Market

[ Beijing , 2005/09/16 ] The Ford Motor Company's Premier Automotive Group (PAG), which incorporates the company's luxury car brands, has under its banner the Aston Martin, Jaguar, Land Rover and Volvo makes of automobile. Ever since Volvo made its debut in China , PAG has used its combined resource advantages to make a forceful sally into China 's high-end luxury car market. In order to consolidate its advantages and further strengthen its presence in the vigorously developing Chinese auto market, PAG announced on September 9, 2005 in Beijing a reorganization of the management of its China operations, and introduced its new management team. Mr. K.C. Hu has been appointed PAG's China region general manager, with Mr. Per Norinder taking over as general manager of Volvo's China region operations. Dr. Alex Klose, President of PAG's Asia-Pacific Region operations, chaired the press conference at which the reorganization was announced. The new appointments go into effect as of October 8.

PAG has continuously paid great attention to and invested in developing the huge potential of the Chinese auto market, and has been particularly careful about choosing personnel for its China region management team. Apart from sensitivity and overall strategic control as regards the global market, other standards used in selecting PAG's China region management team were the abundant regional retail market, overall experience in service and market operations, and outstanding team leadership and sales record.

The appointment of the new management personnel fully embodies the importance PAG attaches to the China market, and its strategic program for this market. In 1999 and 2000, Mr. K.C. Hu served as Managing Director of the Taiwan operations of Mazda and Jaguar, respectively. During his six-year tenure, he raised Mazda's share of the Taiwan market from 0.7% to 6.1%, raising the sales of Mazda cars from 3,000 in 1998 to 25,000 in 2005; and within five years he raised the sales of Jaguar cars from 128 to 480 -- a 400% record increase. In his 32 years of service to the Ford Motor Company, Mr. K.C. Hu has worked in just about every field of the company's operations, accumulating rich experience in product planning, marketing management, product sales and new business development. The new and invigorated management team will surely raise PAG's China operations to a higher plane.

Volvo, which was the first of PAG's automobile brands to enter the Chinese market, puts China in the center of its global market strategy. Volvo's phenomenal development in China is inseparably bound up with the strategic leadership of its high-level management team. Mr. Per Norinder, the newly appointed general manager of Volvo's China region operations, has been with the company for over 30 years, and has a wealth of experience in sales, marketing and product development. He has served as a senior manager for Volvo in Germany , France , Japan , Spain and Belgium , and he once held the post of Volvo's Vice President in charge of European sales and marketing. His outstanding accomplishments in global management and equally outstanding all-round regional sales experience will certainly help Mr. Per Norinder accelerate the development of Volvo in the Chinese market.

PAG has under its banner the Ford Motor Company's Aston Martin, Jaguar, Land Rover and Volvo brands. PAG adopts extremely positive management and marketing strategies for the China market. In 2005, it promoted seven new types of automobile in China , including the All-New Volvo S40, the Volvo XC90 V8 Executive, the Jaguar XJ 8L and XJ 6L , and the Land Rover Discovery 3, 2006 Range Rover and Range Rover Sport.

In the course of promoting new products, PAG has achieved an exciting sales record. So far this year, Volvo's sales have risen by 47% compared to the same period last year; Jaguar sales are up by 167%; and those of Land Rover by 57%. The fact that PAG made such successful achievements in the midst of intense competition this year in the high-end car market is due to its superb product quality and brand-name attraction.

At the ceremony to announce the formation of the new management team, Mr. K.C. Hu said, ``Volvo, Jaguar and Land Rover are the most famous brands of automobiles in the world, with huge numbers of enthusiasts and faithful clients. I have noted that, matching their enormous success in other countries, these three makes of automobile are gaining more and more approval and affection among Chinese consumers. Facing the huge potential of the Chinese market, I feel a great sense of personal responsibility. Nevertheless, we are determined to satisfy our very discriminating Chinese customers, and win out over the heated competition.”

Under the leadership of the new management team, PAG will enhance its power of development. In 2006, it will promote dazzling new auto models to meet the differing demands of Chinese consumers.