UPDATE: Ford, GM Post Record High 1st Half Sales Volumes In China
06 Juli 2009 - 1:06PM
Dow Jones News
U.S. auto makers General Motors Corp. (GM) and Ford Motor Co.
(F) had record sales volumes in China in the first half, boosted by
the popularity of their smaller models.
GM and Ford's strong sales in China in the six months ended June
30 come as the companies are increasingly turning to emerging
markets, including China, for growth, as sales in the U.S. continue
to decline by double-digit percentages.
Ford said Monday it sold 18,224 Fiesta subcompact sedans in
China since its launch in March, exceeding its expectation. It
declined to disclose its forecast.
Separately, GM said Wednesday sales of its Chevrolet Spark
mini-car rose 60% in the first half to 32,065 units.
In January, China halved the purchase tax on vehicles with
engines 1.6 liters and under to 5%, and also introduced subsidies
for some auto purchases.
Sales of Ford-brand passenger cars in China rose 55% in June
from a year earlier, while sales of its light vehicles in the U.S.,
which includes cars and light trucks, fell 11%.
Sales at Ford's vehicle-making joint ventures in China rose 14%
in the first half from a year earlier to 197,212 units, a record
for the company.
Sales at Ford's passenger car joint venture, Changan Ford Mazda
Automobile Co., rose 20% in the first half from a year earlier to
140,386 units, including sales of Mazda Motor Corp. (7261.TO)
cars
Ford lowered its stake in Mazda to about 13% from 33.4% in
November to shore up operating cash.
GM's sales in China appear to be catching up with its sales in
the U.S., which have been declining.
GM's sales in its home market slid 34% in June from a year
earlier to 176,571 units, while sales in China rose 61.6% in June
to 143,294 units.
For the first half, GM sold 814,442 units in China, a record for
the company, while sales in the U.S. totaled 954,356 units.
Separately, Honda Motor Co. (HMC) said Monday its China sales
rose 53.5% in June from a year earlier to 51,496 units. In the
first half, the Japanese auto maker's sales in China rose 11.9% to
253,812 units, it said.
Sales were boosted by demand for Honda's City subcompact car,
whose sales more than tripled in June to 11,878 units from 3,666
units a year earlier.
Luxury carmaker Audi AG (NSU.XE) also said Monday its first-half
sales in China and Hong Kong rose 11% from a year earlier to 66,866
units. In June, Audi's China and Hong Kong sales rose 28% to 13,265
units, it said in a statement.
-By Patricia Jiayi Ho, Dow Jones Newswires; (8610) 6588 5848;
patricia.ho@dowjones.com