Details from the article:
The U.S. automaker announced on Friday it sold 62,057 vehicles in China in June, taking its sales for the first half of the year to 400,443, down 25 percent compared with the year-ago period. According to consultancy LMC Automotive, it was Ford's biggest first-half percentage decline since starting operations in China in 2001.
“We always knew it would be a challenging year for us given our position in the product cycle,” Peter Fleet, head of Ford’s Asia-Pacific operations, which include China, said in a[n] [under]statement.
LMC Automotive senior market analyst Alan Kang said one reason Ford is struggling in China is "fiercer competition" in the car market there, where luxury brands are suffering amid the rise of local Chinese brands.
"Weak global brands are squeezed like the meat in a sandwich, so this is why we can see not only Ford," but Hyundai Motor Co, KIA Motors Corp, and Peugeot SA have "all suffered" in the last two years, Kang said.
GM sold 4.04 million vehicles in China last year, up 4.4 percent from a year earlier. Ford, in comparison, sold 1.19 million cars last year, down 6 percent. Japan’s Toyota Motor Corp and Honda Motor Co also outsold Ford last year in China.
Edited by Harley Lover, 07 July 2018 - 06:52 AM.