Ford Motor (F) Reaches 1M Unit Sales Milestone in Asia Pacific
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Ford Motor Company (NYSE: F) sold its 1 millionth vehicle in Asia Pacific in 2016, reaching the milestone a month ahead of last year’s pace.
Ford sales in Asia Pacific continue to strengthen this year, culminating with record demand in August. Ford sold 126,834 vehicles in the Asia Pacific region in August, up 22 percent versus a year ago, for a total market share in the region of 4.1 percent, Ford’s highest share ever for any single month.
“Reaching 1 million sales so quickly is a testament to the growing strength of our brand and products in Asia,” said Dave Schoch, president, Ford Asia Pacific. “Even with intense competition and challenging business conditions, Ford continues to grow and reach new customers in Asia Pacific.”
A key driver of Ford’s growth has been its growing SUV lineup with year-to-date sales up 17 percent compared with same time period last year. In fact, SUVs have accounted for 30 percent of Ford’s vehicle sales this year. The new Ford Edge, for instance, has become a hot seller in China, with year-to-date sales up three-fold since its introduction last year.
The introduction of the Ford Mustang has created a sensation in markets such as China, Australia, India and South Korea. The Ranger pickup also continues to thrive, with strong sales across the region, particularly in Australia, New Zealand, Taiwan, Thailand and Vietnam.
Ford saw best-ever August sales for a number of markets in Asia Pacific, including China where sales for Ford and its joint venture partners rose 22 percent compared to August 2015. Thanks to the strong performance of Ranger and Transit, sales of Ford vehicles in Vietnam increased 57 percent in August, while strong performance of EcoSport, Ranger and Everest helped increase sales of Ford vehicles in the Philippines by more than 90 percent. In Thailand, Ranger’s market share was up to 10 percent in the pick-up segment in August for the first time ever.
“We are connecting with new customers with the most modern and expressive Ford lineup we have ever offered across Asia Pacific,” said Peter Fleet, vice president, Marketing, Sales and Service, Ford Asia Pacific. “We will continue to grow our sales across the region through the rest of this year and into 2017 as we introduce more new vehicles and technologies, such as new Kuga with SYNC 3 launching now in China.”
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Ford Motor (F) Light-Vehicle Sales Rose 5.1% in November 2016, Topping Expectations
- Digital Ally (DGLY) Refutes TASER's Attack on ‘292 Patent; Says Nothing New Here
- Teleflex (TFX) to Acquire Vascular Solutions (VASC) in $1B Deal
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Retail Sales
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!