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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Jiangling Motors Corporation, Ltd.    000550   CNE000000CV8

JIANGLING MOTORS CORPORATION, LTD. (000550)
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Jiangling Motors : Ford Motor's China sales fall 32 percent in July on continued lack of fresh models

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08/10/2018 | 03:09am EST
FILE PHOTO - Ford logo is pictured at a car dealership in Monterrey

BEIJING (Reuters) - Ford Motor Co on Friday said its sales in China fell 32 percent in July from a year earlier to 57,662 vehicles, as the U.S. carmaker continued to suffer from a lack of fresh models in the world's largest auto market.

The latest figure followed a 38 percent tumble in June, leading to the automaker's worst-ever first-half year in China since starting operations in the country in 2001.

For January-July, Ford's China sales dropped 26 percent versus the same period a year earlier to 458,105 vehicles.

On Wednesday, Ford announced plans to launch an "entry-level" sport utility vehicle (SUV) early next year in China, developed jointly with local partner Jiangling Motors Corp Ltd, as part of efforts to revive its slumping business.

The new SUV, the Territory, is one of 50 new or redesigned vehicles Ford plans to launch in China from this year through 2025. Those vehicles include a redesigned Focus scheduled for launch later this year.

Ford officials have said the automaker's business in China will remain pressured this year by a dearth of new or significantly redesigned models in its product lineup, a situation they indicated could last through the end of 2018 or early 2019.

(Reporting by Beijing Monitoring DeskEditing by Christopher Cushing)

Stocks mentioned in the article
ChangeLast1st jan.
FORD MOTOR COMPANY -5.88% 8.315 Delayed Quote.17.52%
JIANGLING MOTORS CORPORATION, LTD. --End-of-day quote.
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Financials (CNY)
Sales 2018 28 223 M
EBIT 2018 221 M
Net income 2018 262 M
Finance 2018 9 224 M
Yield 2018 2,92%
P/E ratio 2018 34,44
P/E ratio 2019 28,47
EV / Sales 2018 0,02x
EV / Sales 2019 0,03x
Capitalization 9 857 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 5
Average target price 10,4  CNY
Spread / Average Target -29%
EPS Revisions
Managers
NameTitle
Xin Fan President & Director
Yi Zhu Chairman-Supervisory Board
Tian Gao Qiu Chairman
Yuan Yuan Gong Chief Financial Officer
Chun Ying Xiong Director & Executive Vice President
Sector and Competitors
1st jan.Capitalization (M$)
JIANGLING MOTORS CORPORATION, LTD.1 458
SAIC MOTOR CORPORATION-5.74%42 979
MARUTI SUZUKI INDIA-1.48%31 440
FIAT CHRYSLER AUTOMOBILES13.85%24 979
FERRARI13.00%20 725
BYD COMPANY LIMITED--.--%18 263