Ford Motor Co. F sold 104,842 vehicles in China in Mar 2015. This reflects a 1% year-over-year increase from 103,815 units sold in Mar 2014. Sales of Ford in the world’s largest automobile market totaled 296,825 units in the first quarter of 2015, up 9.4% from 271,321 vehicles sold in the first quarter of 2014.
Product-wise sales volume of Ford Escort and Ford Mondeo was high in the quarter. Ford Mondeo’s sales grew 10% in March and 7% in the first quarter.
Meanwhile, Ford’s passenger car joint venture, Changan Ford Automobile (“CAF”) witnessed a 4% year-over-year rise in vehicle sales to 74,418 units in Mar 2015. Sales of CAF surged 12% to 218,487 vehicles in the first quarter.
Further, Ford's commercial vehicle investment in China, Jiangling Motors Corporation (“JMC”), sold 27,002 vehicles in the month of March. Sales fell 5.3% from 28,501 vehicles in Mar 2014. However, JMC’s sales in the first quarter grew 5% year over year to 70,582 vehicles.
In order to support the demand in the nation, Ford inaugurated an assembly plant – Changan Ford Hangzhou Plant – in Hangzhou, China last month. Changan Ford Hangzhou, Ford’s sixth assembly plant in China, required an investment of $760 million. It has a production capacity of 250,000 vehicles.
Ford currently carries a Zacks Rank #3 (Hold). Some better-ranked automobile stocks are Gentherm Incorporated THRM, General Motors Company GM and Wabash National Corp. WNC. While Gentherm and Wabash National sport a Zacks Rank #1 (Strong Buy), General Motors carries a Zacks Rank #2 (Buy).
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