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

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

Chongqing Changan Automobile's logo on its CS75 SUV model is pictured at its booth during the Auto China 2016 auto show in Beijing

SHANGHAI (Reuters) – U.S. automaker Ford Motor Co’s <F.N> 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 <000625.SZ> 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) <000550.SZ>, 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%.

The two Chinese ventures of Ford rival General Motors Co <GM.N> also reported double-digit growth in April, when many of the government’s movement restrictions were relaxed.

(Reporting by Yilei Sun and Brenda Goh; Editing by Christopher Cushing)

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