[ACCESSWIRE]
LONDON, UK / ACCESSWIRE / October 12, 2016 / Active Wall St. blog coverage looks at the headline from Ford Motor Co. (NYSE: F) as the company released their sales for the month of September 2016 for China on October 11, 2016. The data shared by the company revealed that demand for Ford vehicles had risen 24% for the month of September with sale of 84,335 vehicles. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.
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Sales for September 2016
Ford has seen unprecedented demand in China for its vehicles. Ford's Lincoln along with its joint venture companies Changan Ford Automobile, Jiangling Motor Corp. have sold a record 879,559 vehicles for the year 2016. This is an 11% rise on a year-to-date basis. Ford has a joint venture for passenger car with Changan Ford Automobile and for commercial vehicles with Jiangling Motor Corp.
The total sales by Changan Ford Automobile on a year-to-date basis were 663,282 vehicles, which is up 14 %. Of the total, 84,335 vehicles were sold in September 2016 which is up 25%.
The total sales by Jiangling Motor Corp. on a year-to-date basis were 182,629 vehicles of which 23,416 vehicles were sold in September 2016. This is a rise of nearly 28%.
Ford sells four Lincoln models Lincoln MKZ, the Lincoln MKC, the Lincoln MKX, and the Lincoln Navigator. The total sales of Lincoln vehicles in the last three quarters of 2016 were 20,996, which is a rise of 191%.
In a press release issued by the company, Peter Fleet, Vice President, Marketing, Sales, and Service for, Ford Asia/Pacific said:
"Ford has been building momentum month after month, winning new customers with the most exciting and appealing line-up we have ever offered in China. We will continue to listen to customers and meet their needs with great new cars, SUVs, and commercial vehicles."
Lincolns and SUVs most popular
Ford had expanded its SUV line-up in China, one of the largest auto markets in the world. This has proved to be a winning gamble. Pushing sales figures are the SUV range which includes Ford EcoSport, Kuga, Edge, Everest, and Explorer, and Lincoln MKC, MKX, and Navigator. Of the total vehicles sold this year nearly 230,000 vehicles were SUVs which is an 18 percent increase over 2015 figures.
Ford's iconic Mustang has also gained a fan following with 2,300 vehicles being sold. Ford Focus is another popular model with 20,000 vehicles being sold just in September alone.
Future offerings
Ford in the process of launching the new Kuga SUV across China. It plans to launch the Lincoln Continental in the later part of 2016.
Ford's luxury car brand Lincoln is one of the fastest growing luxury vehicle brands in China. The brand is so popular that the company's is exploring options to start a production facility in China. Currently, Ford has 52 Lincoln dealerships and has plans of having 65 stores by the end of 2016. The company plans to have around 80 stores by the end of year 2017.
The increased sales figures in China, though a cause for jubilance, has been counterbalanced by the shutting of the Mustang factory in Michigan amidst sales decline which may put a damper on overall sentiment. Ford had shut one of its production factories in Michigan for a week due to a 32% decline in sales in September 2016. The production facility which manufactures Mustangs and Lincoln Continentals is expected to resume production from October 17, 2016, onwards.
Ford though has been doing well in the US in terms of sales, yet these are still not comparable to the sales figures of 2015. The overall sales for Ford in the US for September 2016 were 204,447 vehicles, which is an 8% decline as compared to 2015.
Stock Performance
Ford Motor's share price finished Tuesday's trading session at $11.99, sliding 1.07%. A total volume of 39.99 million shares exchanged hands, which was higher than the 3 months average volume of 34.04 million shares. The stock is trading at a PE ratio of 5.34 and has a dividend yield of 5.00%. As of yesterday's close, the stock has a market cap of $48.03 billion.
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