Ford's China ventures saw sales growth in April as market rebounds

Reuters

Published May 06, 2020 21:44

SHANGHAI (Reuters) - U.S. automaker Ford Motor Co 's (N:F) two ventures in China have reported year-on-year sales growth for April, indicating the world's biggest auto market has started its recovery from coronavirus-induced lows.

Ford's main joint venture with Chongqing Changan Automobile Co Ltd (SZ:000625) sold 20,465 vehicles in April, up 38.3% from the same period a year earlier, Changan said in a stock exchange filing on Wednesday.

Jiangling Motors Corp Ltd (JMC) (SZ:000550), in which Ford owns a stake, said in a filing on Thursday that it sold 28,028 vehicles in April, up 7.8%. JMC sells Ford-branded sport-utility vehicles and vans as well as JMC-branded commercial vehicles.

Ford's China sales fell 34.9% to 88,770 vehicles in January-March. During that time, the government imposed restrictions on movement to slow the spread of the novel coronavirus, which has led to over 4,000 deaths in world's second-biggest economy.

China's overall first-quarter vehicle sales fell 42%.