Ford Motor Company (NYSE: F) managed to achieve a record 2015, when it comes to sale deliveries from China. The car manufacturer was able to sell up to 1.1 million vehicles during the previous year, regardless of the depressed economic environment in the country. Based on the most recent official data, Ford China has already managed to sell nearly half a million units this year.
During the previous year, the auto maker was able to sell 1,115,124 vehicles in the Asian country, which represented a growth of 3 percent from the comparable sales record during the year before that. Even for the most recent quarter, the car manufacturer managed to sell 424,000 vehicles within the Asia Pacific region, representing a 13.6 percent rally from 373,000 vehicles sold during the previous year.
When it comes to sales deliveries, the current year has been resilient as the sales in China have hit 479,542 vehicles on a year-to-date basis. This figure represents a growth of 5 percent from the same period during the previous year.
Regardless of the robust performance of the car company throughout the year, Ford China sales lagged slightly during the month May. Sales deliveries came in at 88,248 in May, inching a bit lower from the same month in the previous year. Ford operates 2 joint ventures in the Asian country, namely Changan Ford Automobile JV and Jiangling Motor Corporation JV. The latter sold 19,962 vehicles, while Changan Ford Automobile JV managed to sell 67,055 units during the given period. Out of all the deliveries made, 1,501 units were imported from the United States.
The growth of Ford’s business in the Asian country, and its success depends on the solid performance across all sports utility vehicle brands. During the prior year, Ford Everest, Edge, Ecosport and Kuga transcended quarter of a million in vehicle sales for the first time in China.
One of Ford China’s most significant milestones is its record-breaking performance in eco-friendly vehicles. The Ford EcoBoost, which has an environment friendly feature, experienced a 31 percent increase in sales, breaking the 300,000 level for the first time.
According to reports, Ford is striving to expand Lincoln, its luxury vehicle line. The auto giant is seeking to begin local production of the luxury brand in the Asian country, according to a Bloomberg report citing several reliable sources. Based on reports, it is already negotiating with its Changan Automobile JV for the manufacturing of the vehicles.
China—the biggest auto market all over the globe—has proven to be extremely profitable for multinational auto manufacturers that are trying to reduce transportation taxes and high import duties. The company has not yet released an official statement regarding the matter, but if the reports are accurate, the Blue Oval would be able to save over 25 percent of import taxes. Any marginal drop when it comes to import taxes can offer Lincoln, which is the auto manufacturer’s luxury line, an advantage to its competitors such as Audi, BMW, and Mercedes-Benz.
As of 9:34 AM GMT-4 on June 9, the stock of Ford is changing hands at $13.24, down by 1.12 percent or 0.15.