Ford Sets Goal To Expand Sales In Asia

DETROIT (AP) - Ford Motor Co. wants to expand its global sales by 50 percent by the middle of this decade, mostly through growth in Asia.

The company presented its growth plan at a meeting for investors in New York.

Ford sold 5.3 million vehicles last year, but wants to sell 8 million in the next five or six years. It was the world's fourth largest automaker last year, behind Toyota, General Motors, Volkswagen and Hyundai.

Ford wants more than one-third of its sales to come from Asia and Africa by 2020. That is double the number sold in those regions today. The company says most of the vehicles it builds will be sold globally, but it will offer lower-priced versions in emerging markets to attract buyers.