US carmaker Ford on Thursday stepped up competition in China's heated sedan market with the launch of a new model Ford Mondeo.

The launch ceremony of the Ford Mondeo-Zhisheng held on October 23 in Chongqing. US carmaker Ford on Thursday stepped up competition in China's heated sedan market with the launch of a new model Ford Mondeo. [Xinhua]

The launch came as the Union of National Passenger Cars Market Information released figures showing FAW VW, one of Volkswagen's two joint ventures in China, was leading the Chinese sedan market in October with 38,841 vehicles sold.

Shanghai GM, the flagship joint venture of General Motors, was a close second with sales of 36,113, followed by Volkswagen's other joint venture, Shanghai VW with sales of 32,649.

The Ford Mondeo-Zhisheng, the Chinese version of the third-generation Mondeo, is Ford's fifth sedan model introduced in the world's fastest growing car market since 2003.

The model features four variants priced ranging from 181,800 yuan (US$24,240) to 239,800 yuan.

The launch of Ford's fifth sedan model in the Chinese market since 2003comes five months after Ford offered the third-generation Mondeo on the European market.