Ford Motor China Doubles Sales In First Half Of 2006
* Ford Motor Company brands—including Ford, Lincoln, Volvo, Jaguar and Land Rover—posted total retail sales of 74,395 units in the first six months of 2006, a 101.8 percent increase over the same period of 2005.
* Ford brand vehicles, both locally produced and imported, registered total sales of 68,908 units, up 105.5 percent year-on-year.
* The Changan Ford Mazda joint venture reported a 136.6 percent year-on-year sales increase to reach 56,417 units.
* Volvo, Jaguar and Land Rover sold a combined 5,285 vehicles, a 62.7 percent increase over year-ago levels.
SHANGHAI, July 7, 2006 --- Ford Motor Company brands (Ford, Lincoln, Volvo, Jaguar and Land Rover) posted robust combined retail sales of 74,395 vehicles in the first six months of 2006. The record-setting, first-half sales results represent a remarkable growth of 101.8 percent over the same period of 2005, much higher than the expected industry growth rate.
“Ford Motor China has successfully maintained a strong sales growth momentum over the past two years despite the intensifying competition in the market,” said Mei Wei Cheng, Chairman and CEO of Ford Motor (China) Ltd. “The success is proof of the continuous strengthening of our product line-up and Ford Motor Company products’ increasing popularity among the Chinese consumers.”
Ford brand vehicles, both locally produced and imported, achieved total sales of 68,908 units, a 105.5 percent year-on-year increase, significantly ahead of other key auto makers in China.
Changan Ford Mazda continuing its strong growth momentum
Changan Ford Mazda Automobile Co., Ltd (Changan Ford Mazda), a Ford Motor Company joint venture in China, registered a new first-half sales record of 56,417 vehicles. This marked a significant 136.6 percent increase over the same period of 2005, and was close to the joint venture’s full year sales of 61,013 vehicles in 2005.
Since its launch in September 2005, Ford Focus, a strong player in China’s mid-size car market, has continued to be a major driving force for sales growth of Changan Ford Mazda. In the first six months of 2006, Focus sales reached 33,546 units, accounting for approximately 60 percent of the total sales of Changan Ford Mazda.
Meanwhile, Ford Mondeo, the “2005 Car of the Year” in China, reported solid sales of 20,715 units in the first six months of 2006, a 20.2 percent increase from a year ago.
“We’re pleased to see Changan Ford Mazda has become one of the fastest growing auto manufacturers in China nowadays. With more new and upgraded car models to be launched in the second half of the year, I’m fully confident that Changan Ford Mazda will meet or even exceed its sales target set for the year 2006,” said Mei Wei Cheng.
In 2006, Changan Ford Mazda hopes to double the sales record set in 2005.
To support its strong sales growth, Changan Ford Mazda is rapidly expanding its sales network. To date, over 170 dealers nationwide have been appointed as Ford brand dealers and the number is expected to reach 200 by the end of 2006.
Auto financing expanding to support sales growth
Ford Automotive Finance (China) Ltd. (FAFC) continued to expand its business operation in the first half of the year. So far, it has provided wholesale financing to more than 80 Ford dealers across the country. Retail financing has already been introduced to consumers in 11 Chinese cities (Shanghai, Beijing, Shenzhen, Guangzhou, Wuhan, Nanjing, Suzhou, Wuxi, Changzhou, Ningbo and Zhengzhou). By the end of 2006, FAFC will extend its retail financing service to 21 cities.
Ford Transit leading the light commercial vehicle market
Ford Transit, a commercial vehicle model made by Jiangling Motor Corporation, of which Ford Motor Company now holds a 30 percent share, continued its brisk sales in the first half of 2006. The sales volume reached 11,003 units during this period, up about 35.7 percent from 2005. Transit has now become the number one player in the country’s mid and upper end, light commercial vehicle segment.
Premier Automotive Group being a top player in the luxury car market
Ford Motor Company’s Premier Automotive Group (PAG), represented by Volvo, Jaguar and Land Rover in China, delivered total sales of 5,285 imported vehicles in the first half of 2006. Volvo, Jaguar and Land Rover reported sales of 3,184 units, 540 units and 1,561 units, respectively, with the year-over-year growth rate of 31.2 percent, 68.2 percent and 212.8 percent.
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Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., U.S.A., manufactures and distributes automobiles in 200 markets across six continents. The company’s automotive brands include Aston Martin, Ford, Jaguar, Land Rover, Lincoln, Mazda, Mercury and Volvo. Its automotive-related services include Ford Credit and QualityCare. Ford Motor Company celebrated its 100th anniversary in 2003.
Ford’s history in China can be traced to 1913, when its first Model T was imported and sold in Shanghai. Presently, Ford owns 30% of the shares of Jiangling Motors Corporation Ltd., which produces Ford commercial vehicle Transit and other products.
In 2001, Ford Motor Company established a 50-50 passenger car joint venture with Changan Automotive Corporation Ltd., which was called Changan Ford Automobile Corporation Ltd.(Changan Ford). In March, 2006, with Mazda’s investment in Changan Ford. The restructured company was renamed as Changan Ford Mazda Automobile Co., Ltd. (CFMA). CFMA now has three Ford brand products: Fiesta, Mondeo and Focus.
In early 2005, Changan Ford’s second passenger car plant in Nanjing started construction. In April, 2005, Ford, Changan and Mazda announced a new three-way engine plant joint venture -- Changan Ford Mazda Engine Company Co., Ltd.. On the import business, Ford Maverick, a member of the world-renowned Ford SUV product line, has also been on sale in China. Lincoln Navigator, a premium full-size SUV was launched in China market in May 2005.
Ford Automotive Financing (China) Co., Ltd. (FAFC), Ford Credit’s China operation, started its business operation in July, 2005. It provides wholesale and retail financing services to Ford dealership and Chinese consumers.
Products of the other Ford Motor Company affiliated brands, including Jaguar, Land Rover, Mazda and Volvo are on sale in China as well. Ford’s service brand, Ford QualityCare, is also serving the customers in China.
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