While sales of Ford-branded vehicles rose 5% in March 2016, compared to the same month last year, its Q1 sales in China increased 14% compared to the same period last year, the Ford Motor Company has reported.

Q1 vehicle sales in China reached 314,454, up from 275,737 vehicles sold in the same quarter last year, the automobile manufacturer said. It added that its March 2016 sales reached 114,788.

“We are pleased with the continued growth and positive customer response our products continue to receive in China. We remain committed to offering a great portfolio of vehicles and providing world class service to our valued customers,” said John Lawler, chairman and CEO of Ford Motor China.

There was a 23% rise in Q1 this year compared to the sale last year in of Changan Ford Automobile, Ford’s passenger car joint venture, as sale figures 244,411 vehicles.

The company sold 84,292 vehicles in March, up 12% from the same month last year. However the sale was down by 11% in Q1 compared with 2015 for Ford’s commercial vehicle investment in China – Jiangling Motors Corporation as the arm sold 60,306 vehicles in Q1. The sale of the subsidiary company in March totaled 28,997 vehicles which was 8% less compared with last year.

There was high demand among Chinese customers for the sport utility vehicles (SUVs) of the company. The Ford Ecosport, Ford Kuga, Ford Edge, Ford Explorer and Ford Everest – the sports utility vehicles (SUV) of Ford, combined to total a sale of 79,964. This was 38% more when compared to the same quarter last year. The sale of SUVs in March 2016 was 26,732 which is 29% higher compared to the same figure last year in the same period.

Another highlight for the brand in China were the Ford performance vehicles. While sales of the Ford Focus ST increased 23% in Q1, the sale of the iconic pony car – Ford Mustang were up 75%.

The company also noted a strong start to the year for Lincoln with a three-fold increase compared to the same time in 2015 for its Lincoln brand for the quarter when the sale was 5,484 vehicles. The growing number of dealerships, which reached 37 by the end of March, and Chinese customers’ positive reception of Lincoln SUVs were the primary factors for Lincoln’s strong performance in the first quarter.

There was a 0.35% or $0.04 increase in the company stock on April 7 as it hit $12.81. Ford Motor Company has underperformed by 12.36% the S&P500 and has declined 7.57% since August 31, 2015 and is downtrending.

Apart from production of vehicles, the Ford Motor Company also finances, and services automobiles. Automotive and Financial Services are the two sectors that the company operates through. The company primarily offers vehicles under the Ford and Lincoln brand names and manufactures and services passenger cars, trucks, SUVs, light commercial vehicles, trucks, vans, and electrified vehicles in addition to offering parts and accessories.

(Source: streetinsider.com & nasdaq.com)

Categories: Economy & Finance