Ford’s China ventures increase May sales as market rebounds

Via Reuters Finance

FILE PHOTO – The Chinese national flag flies on the roof of a Ford car dealership in Beijing, China October 11, 2018. REUTERS/Thomas Peter

BEIJING (Reuters) – Ford Motor’s (F.N) China ventures have reported year-on-year sales growth for May in a sign of how the world’s biggest auto market is continuing its recovery from coronavirus-induced lows.

The U.S. automaker’s Chongqing-based venture with Changan (000625.SZ) sold 23,491 vehicles in May, up 130% from a year earlier, it said on Thursday.

Jiangling Motors Corp (JMC) (000550.SZ), in which Ford owns a stake, said in a filing on Wednesday that it sold 29,008 vehicles last month, up 32% year on year.

Separately, Ford also said that sales of its luxury Lincoln brand in China reached 5,000 units last month, up 22%.

Reporting by Yilei Sun and Brenda Goh; Editing by David Goodman


READ ALSO  Amazon begins rolling out bigger UPS and FedEx-style delivery trucks