Ford Motor Co.
) sold 90,775 vehicles in China in Jul 2014, which reflects a 25%
year-over-year increase over 72,834 units sold in Jul 2013.
Year-to-date sales of Ford in the world's largest automobile market
amounted to 640,031 units, up 33% from 480,555 vehicles sold in the
first 7 months of 2013.
Ford Kuga recorded a 10% year-over-year increase in sales to
10,450 units in Jul 2014. Ford EcoSport's sales increased 22% to
7,302 vehicles in the month. Apart from Kuga and EcoSport, Ford
Mondeo also remained popular in China. The car's sales grew an
outstanding 807% to 10,154 units in Jul 2014. Meanwhile, sales of
the Ford Transit commercial vehicle reached 6,066 units in July, up
11% year over year.
Meanwhile, Ford's passenger car joint venture, Changan Ford
Automobile (CAF) witnessed a 19% year-over-year increase in vehicle
sales in Jul 2014 to 64,130 units.
Further, Ford's commercial vehicle investment in China,
Jiangling Motors Corporation (JMC), sold 22,031 wholesale vehicles
in the month of July. Sales surged 33% over Jul 2013.
Going ahead, Ford plans to introduce 15 new vehicles in China by
2015-end. Moreover, in a bid to boost capacity to meet the rising
demand from the nation, the automaker is setting up 3 new
manufacturing plants in addition to the 7 plants it already has in
Ford currently carries a Zacks Rank #3 (Hold). Some
better-ranked auto stocks worth considering include CarMax Inc. (
), O'Reilly Automotive Inc. (
) and Pep Boys - Manny, Moe & Jack (
). All these stocks hold a Zacks Rank #2 (Buy).
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