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FORD MOTOR COMPANY

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Ford Motor Company : Ford China Passenger Car Sales More than Double in January, Total Sales Up 98%

02/06/2013 | 11:52pm EDT
  • Ford China January 2013 wholesales reach 61,475 vehicles, up 98%;
  • CAF passenger car 2013 wholesales reach 43,269 vehicles, up 136%;
  • JMC commercial vehicle 2013 wholesales reach 17,128 vehicles, up 42%;

SHANGHAI, China, 5 February, 2013 - Ford China had its best-ever January, selling more than double the number of passenger cars it did in January 2012.

Ford China sold 44,439 passenger cars-including imported vehicles-last month, a 135 percent increase year-over-year, and achieved combined passenger car and commercial vehicle sales of 61,475 wholesale vehicles, a 98 percent increase from January 2012.

"We're ending the year of the dragon with pride in having served more customers in China than ever before," said John Lawler, Chairman and CEO of Ford China. "As we start the Lunar New Year with great momentum, we are excited to begin offering two new SUVs tailor-made for this market. This is all part of our aggressive expansion to bring 15 new vehicles to China by 2015, and double retail and production capacity in the world's largest automotive market."

Sales of the Ford Focus-the first of 15 new products Ford will bring to China by 2015-continued to drive strong performance in January with 33,632 wholesales sold, more than three times the 9,748 sold in January 2012.

Independent industry data show the Ford Focus was China's best-selling nameplate in 2012. Last year Focus sales reached 296,360 vehicles, more than any other domestically manufactured passenger car, according to industry consultancy IHS Automotive.

Mondeo sales in January were up 75 percent, with 7,068 wholesales sold. Edge sales also grew, up 55 percent from last year, with 940 wholesales sold last month. Both Mondeo and Edge come equipped with variations of Ford's patented EcoBoost engine, which delivers power, performance, and fuel economy for Chinese customers.

Ford's passenger car joint venture Changan Ford Automobile (CAF) saw sales surge in January, with 43,269 wholesales sold in January, more than double the 18,324 sold last year.

Ford's commercial vehicle investment in China Jiangling Motors Corporation (JMC) sold 17,128 wholesale vehicles compared to 12,045 last year, a significant rise of 42 percent despite a contracting commercial vehicle sector.

Ford launched the all-new Kuga-an exciting new SUV and the second of 15 cars Ford is bringing to China by 2015-on January 22. With the Edge, Kuga and the soon-to-be launched EcoSport and Explorer, Ford is bringing to China a full family of SUV's, the country's fastest-growing segment.

Editor's note: All sales figures quoted are based on wholesale numbers.

About Ford Motor Company

Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 171,000 employees and about 65 plants worldwide, the company's automotive brands include Ford and Lincoln. The company provides financial services through Ford Motor Credit Company.

Ford's wholly owned subsidiaries, joint ventures and investment in China include Ford Motor (China) Limited, Ford Motor Research & Engineering (Nanjing) Co., Ltd., Ford Automotive Finance (China) Ltd., Changan Ford Mazda Automobile Co., Ltd., Changan Ford Mazda Automobile Co., Ltd. Nanjing Company, Changan Ford Mazda Engine Co., Ltd. and Jiangling Motors Co., Ltd.

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Financials (USD)
Sales 2023 154 B - -
Net income 2023 6 576 M - -
Net cash 2023 13 053 M - -
P/E ratio 2023 7,21x
Yield 2023 4,63%
Capitalization 46 718 M 46 718 M -
EV / Sales 2023 0,22x
EV / Sales 2024 0,21x
Nbr of Employees 173 000
Free-Float 97,2%
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Technical analysis trends FORD MOTOR COMPANY
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Mean consensus HOLD
Number of Analysts 23
Last Close Price 11,72 $
Average target price 14,21 $
Spread / Average Target 21,3%
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Managers and Directors
James D. Farley President, CEO, Director & President-Model E
John T. Lawler CFO & Interim Chief Supply Chain Officer
William Clay Ford VP & Head-Commercial Truck Vehicle Center
J. Douglas Field Chief Advanced Product Development & Technology
Michael R. Amend Chief Enterprise Technology Officer
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