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Ford Motor Company (F) - $25 value - yours FREE >>
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Ford's (F) Sales in China Increase 6% in First-Half 2016
Ford Motor Co. (F - Free Report) and its joint ventures’ China sales (excluding Lincoln sales) improved 3% year over year to 85,105 vehicles in Jun 2016. Sales increased 5% to 564,647 units in the first half of 2016. Including Lincoln sales, Ford witnessed a 6% year-over-year rise in sales in the world’s largest automobile market to 577,097 vehicles in the first six months of 2016.
Notably, Lincoln has already surpassed full-year 2015’s sales volume in the first half of 2016. The brand has sold 12,450 vehicles so far, compared to 11,630 units in full-year 2015.
Ford’s passenger car joint venture, Changan Ford Automobile (“CAF”) recorded a 4% year-over-year increase in vehicle sales to 64,377 units in Jun 2016. Also, CAF sales surged 10% year over year to 434,645 units in the first six months of 2016.
Ford's commercial vehicle investment in China, Jiangling Motors Corporation (“JMC”), sold 19,351 vehicles in Jun 2016. Notably, sales improved 5% from the figure recorded in Jun 2015. However, JMC sales fell 7% year over year to 121,514 vehicles in the first six months of 2016.
In Oct 2015, Ford announced its plan to invest nearly 11.4 billion yuan ($1.8 billion) for research and development in China over the next five years. The automaker has been trying to enhance its sales in the Chinese market by modifying its vehicles to meet consumer preferences. As a result, it has gained significant market share over the last few years. Ford plans to expand its portfolio of hybrid, plug-in hybrid and electric vehicles in the nation over the next few years.
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Ford currently carries a Zacks Rank #3 (Hold). Some better-ranked automobile stocks include Commercial Vehicle Group Inc. (CVGI - Free Report) , Spartan Motors Inc. , and Visteon Corporation (VC - Free Report) , all sporting a Zacks Rank #1 (Strong Buy).
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