Ford China Benefits From China's Singular Post-Covid Booming Economy (Does China Have A Secret Antidote?)
Ford China Posts Largest Year-Over-Year Sales Increase Since 2016; Third Quarter Sales Grew 25.4 Percent
Oct 15, 2020 | SHANGHAI
- Total of 164,352 vehicles were sold in the third quarter, representing a 25.4 percent growth year-over-year and a 3.6 percent increase compared to second quarter 2020
- Ford, Lincoln and JMC brand vehicles saw double-digit year-over-year growth
- Favorable product mix, enhanced by newly launched vehicles, sustained strong growth as Chinese consumer demand continued to increase
SHANGHAI, Oct. 16, 2020 – Ford and its joint ventures, Changan Ford, JMC and Ford Lio-Ho, sold 164,352 vehicles in Greater China in the third quarter. Strong sales momentum contributed to 25.4 percent year-over-year growth – the largest since fourth quarter 2016 – and a 3.6 percent increase quarter-to-quarter. Sales of Ford, Lincoln and JMC brand vehicles achieved year-over-year growth of 12.5 percent, 64.8 percent and 38.3 percent, respectively.
“Ford is strengthening its sales momentum in China by building on growing consumer preference for our iconic brand and favorable product mix of luxury and near-premium utility vehicles,” said Anning Chen, president and CEO of Ford China. “Our localization strategy to produce in China world-class Ford and Lincoln vehicles, including the newly launched Ford Explorer, Lincoln Corsair and Lincoln Aviator, has further enhanced our competitiveness in delivering the best products and services that Chinese consumers are looking for.”
Third quarter highlights
- Ford brand vehicle sales in Greater China totaled 87,131 units, up 12.5 percent year-over-year:
- Ford brand SUVs sold 38,749 units in the Mainland China market, an increase of 72.2 percent year-over-year and 34.8 percent over the second quarter
- Strong demand for commercial vehicles in the Mainland China market drove Ford Transit sales of 12,463 units, an increase of more than 30 percent year-over-year.
- Ford Lio-Ho sold 9,128 vehicles in the Taiwan market, up 60.7 percent year-over-year, and achieved its best quarterly sales result in 13 years. Momentum was driven by strong demand for Ford Focus and the all-new Ford Kuga, which sold 4,166 and 4,095 units, respectively.
- Lincoln brand luxury vehicle sales delivered best-ever quarterly results in China with 19,143 units sold, up 64.8 percent year-over-year. Sales of Lincoln Corsair reached 11,041 units in the third quarter and set a new quarterly record for individual Lincoln nameplates in China.
- JMC brand vehicle sales exceeded 58,000 units, an increase of 38.3 percent year-over-year, reflecting continued strong demand for light trucks, commercial vans and pickups.
Ford China’s continued acceleration of new product launches and localization strategy contributed to its sales momentum in the third quarter. The all-new Mustang Mach-E, which made its China debut at Auto China 2020, will be available locally next year as Ford expands its product portfolio with electrified vehicle offerings. The company is focused on strengthening its growth momentum by delivering its “Best of Ford, Best of China” commitment and leveraging its newly introduced Pioneering Innovation brand spirit and next-generation design language to offer vehicles tailored to the needs of Chinese consumers.
About Ford Motor Company
Ford Motor Company is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification; mobility solutions, including self-driving services; and connected services. Ford employs approximately 188,000 people worldwide. For more information regarding Ford, its products and Ford Motor Credit Company, please visit www.corporate.ford.com.