Ford’s sales in China collapsed 43% in September amid Trump’s trade war and an economic slowdown (F)

Ford china sinkhole

Ford sales in China tanked 43% in September compared to the same month in 2017.
The drop is due to a confluence of factors, from Ford’s makeover of the company to the Chinese economic slowdown.
The growing trade war between the US and China also likely played a role.
Ford has been dealing with a series of maladies from President Donald Trump’s various tariffs.

Ford’s sales in China nosedived in September as a slew of factors, ranging from President Donald Trump’s trade war to a slowdown in the Chinese economy, slammed the company.

According to data released by the company Friday, overall sales in China fell 43% in September compared to the same month last year and are down 30% through the first nine months of 2018 compared to the same time period in 2017.

Sales for each of the company’s Chinese partnerships fell for the month:

Changan Ford Automobile sales were down 55% in September compared to 2017.
Jiangling Motor Corporation sales declined 15%.
Imported Ford sales fell 16% for the month and are down 15% year-to-date.
The only Ford brand to see positive sales growth was Lincoln, with a 1% gain for September and a 4% gain year-to-date.

The numbers, while more extreme, lined up with the general collapse in Chinese auto sales during the month. According to the China Association of Automobile Manufacturers, sales in the country tumbled 11.6% year-over-year in September, the largest drop in seven years.

There are a number of reasons for the collapse in sales for Ford and the Chinese auto market in general:

China’s economy has slowed in recent months, with the International Monetary Fund marking down GDP growth projections for the country and investment in infrastructure and businesses also slowing.
Another problem is the growing trade war between the US and China, which may be partly to blame for …read more

Source:: Business Insider


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