Boston, MA 03/20/2014 (wallstreetpr) – While Ford Motor Company’s (NYSE:F) new car sales for February saw a decline of 6% compared to last year, its competitors such as General Motors Company (NYSE:GM) reported declines as well.
In more positive news, Ford reported positive sales figures in the world’s largest auto market, China.
More Good News
Ford is going to launch 23 new models worldwide this year. This should create excitement about the company and sales growth this year and in coming years. Its F-series pick-up truck is still selling like hot cakes and had its best sales figures in February in eight years.
Growth in China and Europe
Ford is spending $5 billion in China in an effort to double its market share in the Chinese market by the end of 2015. This will double Ford’s passenger vehicle production capacity in China to 1.2 million per year. Ford is planning to launch 15 new vehicles in China by 2015. Ford is also planning to double its dealers in China by 2015. As the Chinese automobile market is set to keep growing and reach 30 million, Ford’s investment there should pay rich dividends in the next few years. The continuing territorial dispute between China and Japan over the Senkaku Islands has led to a decline in demand for Japanese brands in China. This has opened up opportunities for non-Japanese brands.
The European auto market is recovering as well and Ford’s European sales have grown 11.6% this February. With 10 new vehicles set to be introduced in Europe in 2014, this growth is likely to be sustained into 2015 and beyond. There’s good news from the U.K. as well where auto sales rose by 3% in February and Ford Fiesta was the top seller in the U.K.
Even in America, people will eventually make their way to dealerships once the winter gets finally over.
