Ford: Strong 1st-Qtr Sales in China - Ford Inside News Community
 3Likes
  • 1 Post By Bloggin
  • 1 Post By wingsnut
  • 1 Post By Bloggin
 
LinkBack Thread Tools
post #1 of 4 (permalink) Old 04-26-2016, 05:00 PM Thread Starter
FIN Staff Member
 
Join Date: Apr 2013
Posts: 7,891
Ford: Strong 1st-Qtr Sales in China

Ford Reports Strong 1st-Quarter Sales in China
http://www.gurufocus.com/news/409022...sales-in-china


Ford Motor’s (NYSE:F) China sales for the month of March spiked 5% to 114,788 units year over year despite the struggling Chinese economy, leading to a 14% first-quarter sales gain.

Despite China’s difficult economy, Ford managed to make its mark in the first quarter of the year. The improvement is attributable to the robust demand for SUVs on the mainland.

The company sold 314,500 vehicles in the first quarter of the year. Ford operates through two joint ventures in China – Changan Ford Automobile and Jiangling Motor. Changan Ford witnessed sales gains of 23% to 244,411 vehicles while Jiangling Motor saw sales decline 11%, selling 60,306 vehicles through the first three months of the year.


Going strong on the mainland

Ford’s sales in March and January were strong enough to compensate for the weak February numbers where deliveries took a hit of 9% owing to the Chinese New Year.

John Lawler, chairman and CEO of Ford China, is happy with the sort of response and appreciation the company’s products are getting from Chinese customers. Moreover, the January to March period saw deliveries climb to 5.64 million units in the country. Passenger vehicle sales in China saw growth of 6.8% in the first quarter. Lawler said in a statement: “We remain committed to offering a great portfolio of vehicles and providing world class service to our valued customers.”

Ford SUVs are selling extremely well in China. Combined sales of Ecosport, Edge, Explorer and Everest surged an astounding 38% in the January-March period against the same period last year. Besides the SUVs and the company’s joint ventures’ solid performances, Ford Mustang did fabulously well and posted a mammoth 75% sales gain in the first quarter of the year.


Lincoln going strong

Furthermore, Lincoln sold 5,484 vehicles during the period, indicating a threefold sales hike from the same period the previous year. Considering the present customer preferences and trends, the company is planning to open more Lincoln dealerships in China. It presently has 37 dealers in China. The goal of selling 300,000 Lincolns in China by the end of this decade would depend on how extensively its dealerships are located and how well it manages to tap the demand for luxury cars in the budding Asian economy.

Ford has the right portfolio at the right time

Chinese customers’ inclination is shifting from traditional sedans to SUVs and crossovers, and Ford seems to be doing well on this front with its wide portfolio.

Ford managed to put up a good show in China, even in the face of tough market conditions, thanks to its product portfolio. Apart from this, the Chinese government’s decision to cut tax on vehicles is bringing positive changes in sales figures. Tax incentives will last all through the year, boosting sales further. Strong China sales in the first quarter should boost the company’s quarterly profits and increase returns to company investors.

Ford’s long-term growth is aligned to emerging economies such as China, which remains the hottest car market in the world. The Detroit automaker remains highly committed and focused on providing great products and exceptional services to its customers.
2b2 likes this.
Bloggin is offline  
Sponsored Links
Advertisement
 
post #2 of 4 (permalink) Old 04-26-2016, 05:05 PM Thread Starter
FIN Staff Member
 
Join Date: Apr 2013
Posts: 7,891
Re: Ford: Strong 1st-Qtr Sales in China

Doing the math for Lincoln China:

5484 and just 37 dealers = 148 average units per dealership for the quarter or just over 49 average units per month per dealership.

At this rate and 23 new dealerships opening this year(to reach 60 by end of 2016), Lincoln should hit 25k+ for 2016.
Bloggin is offline  
post #3 of 4 (permalink) Old 04-26-2016, 05:08 PM
Ford Explorer
 
wingsnut's Avatar
 
Join Date: Mar 2007
Posts: 10,709
Re: Ford: Strong 1st-Qtr Sales in China

China sells more cars than America and Japan combined.

Huge market.
Bloggin likes this.

**********************

To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.
wingsnut is online now  
 
post #4 of 4 (permalink) Old 04-28-2016, 12:10 PM Thread Starter
FIN Staff Member
 
Join Date: Apr 2013
Posts: 7,891
Re: Ford: Strong 1st-Qtr Sales in China


"Just four months after it was launched, the Taurus is already outselling its major rivals. We also have an unparalleled lineup of SUVs. Changan Ford is extremely aggressive when it comes to introducing new cars," he said(Marin Burela, president of Changan Ford Automobile Co.).

The carmaker's answer is the Ford Taurus Limited Edition, which makes its Chinese debut at Auto China 2016. The car is designed to be a sophisticated modern mobile office on four wheels. The Sync 3 connectivity function is provided for the first time, and it enables passengers to meet work demands through wireless connectivity.

http://www.chinadaily.com.cn/busines...t_24917101.htm
2b2 likes this.

Last edited by Bloggin; 04-28-2016 at 12:13 PM.
Bloggin is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Ford Inside News Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Posting Rules  
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome