Ford Motor Co. reported a 9% year-over-year increase in China sales to 106,283 vehicles in Nov 2015. Sales of Ford in the world’s largest automobile market totaled 990,356 units in the first eleven months of 2015. With this, Ford is very close to achieving its sales target of 1 million vehicles in China.
Sales of SUVs were particularly strong, with both the Ford Kuga and the Ford Edge selling more than 10,000 vehicles in November. Ford Mondeo was the best-selling vehicle in the month, with sales improving 13% to 12,431 vehicles. In the first eleven months of 2015, Ford Mondeo sales surpassed 10,000 units.
Ford’s passenger car joint venture, Changan Ford Automobile (“CAF”), recorded a 22% year-over-year increase in vehicle sales to 84,546 units in Nov 2015. Sales of CAF were 739,465 units in the first 11 months of 2015, marking a 3% rise from the comparable year-ago period.
Ford’s commercial vehicle investment in China, Jiangling Motors Corporation (“JMC”), sold 20,608 vehicles in Nov 2015. Sales declined 20% from the figure recorded in Nov 2014. Also, JMC’s sales dropped 5% year over year to 226,968 vehicles in the first 11 months of 2015.
Ford is witnessing rising demand for its vehicles in China. The automaker is focused on providing its Chinese customers with an entire range of high-quality, safe, smart and fuel-efficient vehicles.
In November, Ford launched its Taurus sedan at the Guangzhou Auto Show. With this launch, Ford delivered its fifteenth vehicle in China in 2015. Next year, Ford will focus on providing its Chinese customers with world-class vehicles, including two new energy vehicles, the Ford C-MAX Energi plug-in hybrid electric vehicle and the Ford Mondeo hybrid electric vehicle.
Currently, Ford is the fifth largest foreign automaker in China. Ford currently carries a Zacks Rank #3 (Hold).
Some better-ranked automobile stocks include General Motors Company GM , Fox Factory Holding Corp FOXF and O’Reilly Automotive Inc. ORLY . All these stocks carry a Zacks Rank #2 (Buy).