Ford Motor Co. (F - Analyst Report) 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 the country.
Ford currently carries a Zacks Rank #3 (Hold). Some better-ranked auto stocks worth considering include CarMax Inc. (KMX - Analyst Report), O'Reilly Automotive Inc. (ORLY - Analyst Report) and Pep Boys - Manny, Moe & Jack (PBY - Analyst Report). All these stocks hold a Zacks Rank #2 (Buy).