Ford Motor Co.
) gained 2.3% on May 8, after the company announced strong April
sales in China. The automaker sold 96,829 wholesale vehicles in
China in the month, which reflects a 29% year-over-year increase
compared with 75,315 units sold in Apr 2013. Year-to-date sales of
Ford China amounted to 368,150 units, up 41% from 261,859 vehicles
sold in the first 4 months of 2013.
In April, sales of imported cars, such as Ford Explorer, Ford
Edge, Ford Focus ST and the Ford Fiesta ST, surged 72% to 3,251
units for Ford China. Sales of imported cars in the first 4 months
of 2014 escalated 202% year over year to 12,249 units.
Ford Focus, which was Ford's bestseller in China in 2013,
recorded an 11% year-over-year increase in sales to 34,006 units in
April. Apart from Focus, Ford Mondeo also remained popular in
China. The car's sales grew an outstanding 415% to 10,476 units in
Apr 2014. Ford Kuga also recorded a 16% surge in sales to 11,102
Meanwhile, Ford's passenger car joint venture, Changan Ford
Automobile (CAF) witnessed a 29% year-over-year increase in vehicle
sales in Apr 2014 to 68,119 units.
Further, Ford's commercial vehicle investment in China,
Jiangling Motors Corporation (JMC), sold 25,459 wholesale vehicles
in Apr 2014. Sales surged 23% over Apr 2013, driven by a 25%
increase in sales of Ford Transit to 7041 vehicles.
Ford's revenues in the first quarter of 2014 grew 0.8% to $35.9
billion on the back of market share gains in the Asia-Pacific
region, particularly China. The automaker's market share improved
to 4.5% in China, fueled by strong sales of Kuga, Mondeo and
Ford currently carries a Zacks Rank #3 (Hold). Some
better-ranked automobile stocks worth considering are
Modine Manufacturing Co.
Fuji Heavy Industries Ltd.
). Modine and Volkswagen carry a Zacks Rank #1 (Strong Buy), while
Fuji is a Zacks Rank #2 (Buy) stock.
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