Ford Motor Co.
) set a new sales record in China in 2013 with annual sales of
935,813 wholesale vehicles. This translates into a 49% surge from
626,616 vehicles sold in 2012.
Ford's December sales in China also increased 35% to 94,838
vehicles, compared with 70,510 vehicles in the year-ago month.
Meanwhile, the automaker's passenger car joint venture Changan
Ford Automobile (CAF) also witnessed a 42% increase in wholesale
vehicle sales in Dec 2013 to 70,098 units, compared with 49,212
units in Dec 2012.
CAF also set a sales record of 678,951 wholesale vehicles in
2013. This signifies a 62% surge from 418,500 wholesale vehicles
sold in 2012.
Further, Ford's commercial vehicle investment in China,
Jiangling Motors Corporation (JMC), sold 230,006 wholesale
vehicles in 2013., which also touched a record high. Sales surged
15% from 200,008 vehicles in 2012. Ford increased its stake in
JMC to 32% from 30% during the year.
The strong sales of Ford in China were driven by the
popularity of the expanded product lineup, including the Ford
EcoSport, the Ford Kuga, the new Fiesta, and the new Mondeo. The
increased imported vehicle offerings, including the Ford Focus
ST, the Ford Fiesta ST, and the Ford Explorer, also boosted
sales. The combined sales of these four nameplates and the Ford
Edge surged 231% to 26,856 vehicles in 2013 from 8,108 units in
Ford's bestseller in 2013 was the Focus, which sold 403,640
units, up 36% from 296,360 units sold in 2012. Additionally, the
new launches during the year, Ford Kuga, the Ford EcoSport, and
the All-New Ford Mondeo, have a sales volume of 95,891, 59,680,
and 35,747 wholesale units, respectively.
Ford is one of the largest automobile producers in the world
General Motors Company
Toyota Motor Corporation
Honda Motor Co., Ltd.
). Currently, Ford has a Zacks Rank #4 (Sell).
FORD MOTOR CO (F): Free Stock Analysis Report
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