How Can Ford Motor Company Stoke Growth in China?
China has been a critical component of Ford Motor Company's (NYSE: F) growth story following the past recession, and it will hopefully become a second pillar of revenue strength next to North America. Detroit's second-largest automaker has done quite well increasing its sales annually in the world's largest automotive market, but one thing is clear: Some of the low-hanging fruit is gone, and management sees the need to adapt its strategy. Let's dig into Ford's September sales result in China and what management plans to do going forward.
Ford's total sales checked in at 112,902 units in September, which was flat compared to the prior year. If you're keeping track, that puts Ford's third-quarter sales total at just over 295,000 units, which was a 2% decline compared to the prior year. Zooming out even further, Ford's year-to-date sales of nearly 833,000 units is a larger 5% decline compared to the prior year.
One bright spot was found in Ford's luxury Lincoln portfolio. Despite accounting for a small percentage of Ford's total sales, Lincoln continues to grow rapidly in China. Last month, Lincoln sales jumped 79% to more than 5,700 vehicles, and that trend held true for the third quarter, which recorded almost 16,000 units for 83% growth, compared to the prior year.
Source: Fool.com
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