Ford sales jump in China

Ford sales jump in China

The American multinational automaker revealed impressive sales for the first half of the year in Greater China

Ford reported that it sold more than 306,700 vehicles in the first six months of 2021, marking a 24% year-over-year increase. The surge was possible despite the global chip shortage, the carmaker racking up sales in the world’s largest auto market. Still, the shortage bit into Ford sales in Q2, being down 3.6% year-over-year.

Moreover, Ford said its electrification push in China continues with Mustang Mach-E and the inauguration of 10 direct-to-customer electric vehicles storefronts in Q2.

“Ford is focused on offering the right mix of world-class vehicles and services to our customers in China and on continuing the momentum and growth of our business,” stated President and CEO of Ford China, Anning Chen.

The surprising results came after last month the company announced that will halt production at the Michigan factory for a lack of parts while curtailing production at eight more factories due to chip shortage.

Now, Ford is due to publish its second-quarter earnings on July 28.

After the announcement, Ford stock price closed 2.99% higher.

Source: thestreet.com

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