The tiny Ford Fiesta is being heralded as the new symbol of the Ford Motor Company (NYSE: F)–oh how times change.
Ford today began production of the all-new Fiesta, the first in a portfolio of global small cars, at the Cologne Stamping and Assembly plant in Germany.
"The all-new Fiesta is an outstanding symbol for our One Ford vision of
a single, global company designing and building cars for customers
around the world. Be proud of what you have achieved and be proud of
your contribution to a model that will get the world talking," Alan Mulally, president and CEO of Ford, told employees in a taped video message.
The Fiesta has gained a lot of respect in a very short time. In the SUV and truck-crazed U.S., the Fiesta has been viewed as a small step up from a clown car. But no longer–thanks to $4-a-gallon gasoline prices.
Ford said the new small car represents the blueprint for future global product development efforts at Ford and will be tailored to meet customer preferences for interior features, exterior colors, body styles and other options in each region of the world. It will go on sale progressively between now and 2010, starting in Europe.
The Cologne plant is the first Ford assembly facility in the world to build the new global car. Production will start at Valencia Assembly Plant in Spain in January 2009.
In North America, the subcompact will be offered in two models: the European hatchback and the popular two-door sedan. The models will be produced at the company’s Cuautitlan Assembly Plant in Mexico in 2010. Retooling the plant from its current production of F-Series trucks to small car production will begin in December.
Fiesta production for the Asian market begins later this year in Nanjing, China and Rayong, Thailand.
Within five years, Ford expects to build about 1 million vehicles worldwide off the new global B-car platform along with nearly 2 million vehicles off the global C-car unit.
In 2008, Ford will manufacture 148,000 new Fiestas in Cologne. When operating at full capacity, a total of more than 1,900 Ford Fiestas and Fusions will be produced daily on three shifts at the Cologne plant.
"The Fiesta is special to us in Ford of Europe and to our customers," said John Fleming, President and CEO, Ford of Europe." Over the past 32 years it has consistently been at the top of the list of best-selling cars in Europe, where high gas prices have been the norm.
Surprisingly, the auto-maker did not release details about the fuel efficiency of the new Fiesta, though it can be assumed to be much better than the F-series trucks.
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