Ford (F) Slumps; H112 Sales in China See Tepid Increase
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Ford (NYSE: F) shares are lower along with broader markets Monday, though extra pressure might be coming from its China sales numbers.
The automaker said sales in China rose 18 percent in June to 52,440 vehicles, as Focus sales began to steadily pick up. Total Focus sales by Changan Ford Mazda Automotive were 15,000, with overall Ford-branded passenger vehicle sales at 37,038 units.
Ford's commercial vehicle joint venture, Jiangling Motors, saw a 1 percent decrease in sales to 15,093 vehicles.
Amid the monthly jump, first-half 2012 sales were only up 1 percent to 277,322 vehicles. The number underscores some of the slowdown in the Chinese economy, forcing the People's Bank of China to cut rates twice over the past two months.
Shares of Ford are down 1.5 percent Monday.
The automaker said sales in China rose 18 percent in June to 52,440 vehicles, as Focus sales began to steadily pick up. Total Focus sales by Changan Ford Mazda Automotive were 15,000, with overall Ford-branded passenger vehicle sales at 37,038 units.
Ford's commercial vehicle joint venture, Jiangling Motors, saw a 1 percent decrease in sales to 15,093 vehicles.
Amid the monthly jump, first-half 2012 sales were only up 1 percent to 277,322 vehicles. The number underscores some of the slowdown in the Chinese economy, forcing the People's Bank of China to cut rates twice over the past two months.
Shares of Ford are down 1.5 percent Monday.
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