Fashion
Ford Motor Co. F sold 91,013 vehicles in China in May 2015. This reflects a 4% year-over-year increase from 87,887 units sold in May 2014. Sales of Ford in the world’s largest automobile market totaled 459,982 units in the first five months of 2015, up 1% from 456,594 vehicles sold in the same period of 2014. It is worth noting that Ford has started reporting only retail sales from May as opposed to wholesale figures reported earlier.
Meanwhile, Ford’s passenger car joint venture, Changan Ford Automobile (“CAF”) witnessed a 3% year-over-year rise in vehicle sales to 67,357 units in May 2015. Sales of CAF inched up 1% to 332,999 vehicles in the first five months of 2015.
Further, Ford’s commercial vehicle investment in China, Jiangling Motors Corporation (“JMC”), sold 20,910 vehicles in May. Sales improved 7% from 19,569 vehicles sold in May 2014. Moreover, JMC’s sales in the first five months of 2015 grew 4% year over year to 114,638 vehicles.
In order to support the demand in China, Ford inaugurated an assembly plant – Changan Ford Hangzhou Plant – in Hangzhou in March. 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). Better-ranked automobile stocks include The Goodyear Tire & Rubber Company GT , PACCAR Inc. PCAR and U.S. Auto Parts Network, Inc. PRTS , all carrying a Zacks Rank #2 (Buy).
