Strong sales of Ford Motor Co. (F - Analyst Report) in China continued in the first month of 2014, with record January sales of 94,466 wholesale vehicles. This amounts to a 53% year-over-year growth compared to 61,567 units sold in Jan 2013.
Sales of passenger cars, including imported cars, surged 63% to 72,598 units for Ford China. In comparison, passenger car sales in Jan 2013 amounted to 44,439 vehicles.
Ford Focus, which was Ford’s bestseller in China in 2013, remained the best-selling vehicle in Jan 2014 as well. The car recorded an 8% increase in sales to 36,385 units from 33,632 units in Jan 2013. Moreover, the car was the best-selling nameplate in the Chinese passenger vehicle market in 2013, as per IHS Automotive.
Ford Focus scores high on technology, design, safety and fuel economy. On Feb 11, Ford revealed that the 2014 Ford Focus received a five-star overall vehicle score in the National Highway Traffic Safety Administration’s (NHTSA) New Car Assessment Program. The rating was given to its sedan, hatchback as well as electric versions.
Apart from Focus, Ford Mondeo also remained popular in China. The car’s sales grew 51% to 10,704 units in Jan 2014 from 7,068 vehicles in Jan 2013.
Meanwhile, Ford’s passenger car joint venture, Changan Ford Automobile (CAF) witnessed a 62% increase in wholesale vehicle sales in Jan 2014 to 70,038 units, compared with 43,269 units in Jan 2013.
Further, Ford's commercial vehicle investment in China, Jiangling Motors Corporation (JMC), sold 21,868 wholesale vehicles in Jan 2014. Sales surged 28% from 17,136 vehicles in Jan 2013.
Ford 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 is one of the largest automobile producers in the world along with General Motors Company (GM - Analyst Report) , Toyota Motor Corporation (TM - Analyst Report) and Honda Motor Co., Ltd. (HMC - Analyst Report) . Currently, Ford holds a Zacks Rank #5 (Strong Sell).