Salem Radio Network News Thursday, October 29, 2020


Ford’s third-quarter China car sales rise 25% year-on-year to 164,352 units

BEIJING (Reuters) – Ford Motor Co <F.N> on Friday said its China sales rose 25% over July to September from the same period a year earlier to 164,352 vehicles, attributing the increase to product launches and a localisation strategy.

The result represents Ford’s second consecutive quarterly sales increase in the world’s biggest auto market following almost three years of decline.

The Dearborn, Michigan-based firm makes vehicles in China through joint ventures with Chongqing Changan Automobile Co Ltd <000625.SZ> and Jiangling Motors Corp Ltd <000550.SZ>.

On Monday, U.S. rival General Motors Co <GM.N> said its China sales grew 12% in July-September to 771,400 vehicles.

Overall vehicle sales in China grew 13% in September, 12% in August and 16% in July.

(Reporting by Yilei Sun and Brenda Goh; Editing by Muralikumar Anantharaman and Christopher Cushing)


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