Ford projects in China cap sales growth in April as market recovers
American auto firm Ford Motor Co reported sales growth in its two China ventures in April. The sales cap signals the incipient recovery of the world’s largest car market after suffering from pandemic-driven lows.
Chongqing Changan Automobile Co Ltd, Ford’s major joint venture in China, marked a 38.3% sales increase from the same period in 2019, selling 20, 465 vehicles in April.
Ford’s minor venture, owning shares in Jiangling Motors Corp Ltd, was also successful as the Chinese firm reported a 7.8% sales growth after selling 28,028 vehicles in April. Aside from its locally branded vehicles, JMC also sells Ford sport-utility vehicles.
The growth caps clearly signals Ford’s recovery as the two China ventures reported a 34.9% decline in its January-March sales.
Meanwhile, Ford’s rival, General Motors also reported successful China ventures as its partner firms tallied double-digit growth in April.