Ford Q2 China sales were worst since Covid pandemic began


Guests stroll previous a Ford Escape Titanium on the Shanghai Auto Present in Shanghai on April 17, 2019.

Greg Baker| AFP | Getty Pictures

DETROIT — Ford Motor joined its crosstown rival General Motors in reporting its worst quarterly gross sales in China because the onset of the coronavirus pandemic, amid a resurgence of Covid cases within the nation and ongoing world provide chain issues.

Ford stated it offered 120,000 autos in the course of the second quarter, a roughly 22% decline from a 12 months earlier and its worst gross sales in Better China because the fewer than 89,000 models it offered in the course of the first quarter of 2020, when government-imposed Covid restrictions introduced the nation’s manufacturing to a standstill.

In a release late Thursday, Ford stated gross sales in June improved exponentially with easing of restrictions, as general gross sales exceeded 50,000 models, up 3% 12 months over 12 months and 38% month over month.

“The pandemic’s resurgence prior to now few months challenged us to beat provide chain and logistics obstacles to positioning Ford for development within the second half of the 12 months,” Anning Chen, president and CEO of Ford China, stated in assertion.

However there might nonetheless be challenges forward. Mainland China’s daily Covid case count, together with these with out signs, has surged from a handful of instances to round 200 or 300 new instances within the final a number of days. The variety of cities limiting native motion on account of Covid greater than doubled in every week to 11 as of Monday, up from 5 every week earlier, in keeping with Ting Lu, chief China economist at Nomura.

GM on Wednesday reported a 35.5% decline in its second-quarter gross sales in China to 484,200 autos, its lowest gross sales since 461,700 autos in the course of the first quarter of 2020.

— CNBC’s Evelyn Cheng contributed to this report.

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