Ford Motor Co. (F) sold 77,506 vehicles in China in Aug 2014, which reflects a 9% year-over-year increase from 71,183 units sold in Aug 2013. Year-to-date sales of Ford in the world’s largest automobile market amounted to 717,537 units, up 30% from 551,738 vehicles sold in the first 8 months of 2013.
The most popular Ford vehicle in August as well as year-to-date in China was the Focus, per the China Association of Automobile Manufacturers. The company sold 260,993 vehicles in the first 8 months of 2014, up 5% from 249,576 units in the first 8 months of 2013.
Meanwhile, Ford Kuga recorded a 39% year-over-year increase in sales to 12,114 units in Aug 2014. Ford EcoSport’s sales rose 29% to 6,300 vehicles in the month. Ford Mondeo’s sales grew an outstanding 107% to 8,526 units in Aug 2014.
Meanwhile, Ford’s passenger car joint venture, Changan Ford Automobile (CAF) witnessed a 13% year-over-year increase in vehicle sales in Aug 2014 to 60,306 units.
Further, Ford's commercial vehicle investment in China, Jiangling Motors Corporation (JMC), sold 16,200 vehicles in the month of August. Sales were close to the figures in Aug 2013.
Going ahead, Ford plans to introduce 15 new vehicles in China by 2015-end. Moreover, in order to support the new vehicle introductions, the automaker will set up 2 assembly plants, one in Chongqing by 2014-end and the other in Hangzhou, which will be unveiled in 2015.
Ford currently carries a Zacks Rank #3 (Hold). Meanwhile, one could consider better-ranked automobile stocks such as Tesla Motors, Inc. (TSLA), Fox Factory Holding Corp. (FOXF) and Gentherm Inc. (THRM). Tesla sports a Zacks Rank #1 (Strong Buy), while Fox Factory and Gentherm have a Zacks Rank #2 (Buy).
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