* Changan Ford Mazda Automobile moved into the "top ten" car-makers in China
* Ford Motor Company's wholly-owned brands in China (Ford, Lincoln, Volvo, Jaguar and Land Rover) posted total retail sales of 93,206 unitsin the first half of 2007, a 25% growth over the same period of 2006, outpacing the industry average
* Ford brand vehicles, both imported and domestically produced, passenger and commercial purpose, grew 22% to 84,208 units
* Ford Motor's passenger car joint venture, Changan Ford Mazda Automobile Co., Ltd., reported a significant 57% year-on-year wholesale sales growth to reach 93,587 units
* Luxury brands of Volvo, Jaguar and Land Rover retail sales grew 66% percent for the first 6 months, to 8,779 units
* The third generation Ford Mondeo will be launched later this year as a major player of domestic premium CD-car segment
SHANGHAI, July 6, 2007 - Adding to the momentum of fast growth in 2006, Ford Motor Company in China continued to post a vigorous retail sales result for the first half of 2007, with 93,206 vehicles sold (under Ford, Lincoln, Volvo, Jaguar and Land Rover brands) and 25% growth over the volume of same period in 2006. This robust growth which outpaced the industry average shows increasing customer excitement with Ford vehicles. With j oint ventures established, modern manufacturing capacity fully utilized and sales/service networks rapidly expanding, Ford Motor Company's key strategic deployment in China has set the company on a steady fast-growth track.
"The first half of 2007 witnessed a significant phase of Ford Motor in China. The establishment of Ford Motor Research & Engineering Nanjing Co., Ltd and the launch of Changan Ford Mazda Engine Company underscore the commitments that Ford Motor has made to the China auto market. " said Mei-Wei Cheng, Chairman and CEO of Ford Motor (China) Ltd. "With the announcement of the coming 3 rd generation Ford Mondeo and an all-new Ford brand small car, Ford's complete line up of cars in China will soon include mid-size vehicles, small cars, SAVs, SUVs, and commercial vehicles."
Ford brand vehicles, both domestically produced and imported, passenger cars and commercial vehicles altogether, achieved total sales of 84,208 units, a 22% increase on the year-on-year basis.
Changan Ford Mazda Automobile ranked top 10 car-makers in China
Changan Ford Mazda Automobile Co., Ltd (CFMA), a Ford Motor Company joint venture in China, posted 6-month wholesale volume of 93,587 units, including various brands it manufactures. This marked a 57% increase over the same period of 2006. In particular, the 2 nd quarter witnessed a wholesale volume of 54,480 units, a 70% soar over the same period in 2006.
The power behind this vigorous growth is the steady introduction of highly competitive products and service. Ford Focus has been the shiniest star in the product lineup. Its 6-month retail sales volume, 55,676 units representing a 66% growth over same period last year, made a significant contribution to the overall performance of CFMA. The refreshed 2007 Ford Focus has demonstrated popularity as one of the hottest items in the market.
Another rising star is Ford S-MAX, which recorded a wholesale volume of 2,260 units for the first 2.5 months since its launch in mid-March. As the first SAV (Sport Activity Vehicle) Ford Motor introduced to China market, its kinetic design form language, outstanding German engineering and excellent driving dynamics have earned Ford S-MAX very positive market response and popularity.
In April, Ford Motor announced the local production plan of the 3rd generation Ford Mondeo later this year. The all new 3rd generation Ford Mondeo embodies Ford's special European kinetic design language and world-class technology. The demand for Ford passenger cars will undoubtedly soar again in the near future with the 3rd generation Ford Mondeo.
Having operated in China for only 4 years, CFMA for the first time made its way into top 10 passenger-car makers in China market in April, according to results released by China Passenger Car Association. It ranked No.7 with more than 20,000 cars sold in that month. Again in May, CFMA was one of the top 10. (The June ranking has not been released yet.)
Combining the new manufacturing plant in Nanjing, which is going to put into production by the end of 2007, and the Chongqing assembly, Changan Ford Mazda Automobile is going to boost its annual production capacity to above 410,000 units. Such will provide needed capacity for coming new products.
Transit continues to lead light commercial vehicle segment
As for commercial vehicles, Ford Transit produced by Jiangling Motor Corporation in Nanchang, of which Ford Motor Company holds a 30 percent equity share, again maintained the segment leadership of mid-to-high-end light van. Retail sales of 12,584 units from January to June increased 13% over the same period last year.
Volvo, Jaguar and Land Rover remain leading players in luxury vehicle market
Ford Motor Company's Premier premium brands of Volvo, Jaguar and Land Rover keep their fast-growth positions in China in the first half of 2007. Total retail sales of these 3 brands grow a significant 66% on the year-on-year basis, to 8,779 units. These Ford Motor premium brands are now significant players in the country's luxury vehicle market and will continue to grow in the future.
Auto financing extends presence in China
Ford Automotive Finance ( China) Ltd. (FAFC) is an indispensable arm for Ford's vehicle sales. The company extended its presence progressively in the first-half of 2007. By the end of the first half 2007, FAFC retail financing has reached 50 cities in China through 110 Ford Brand authorized dealers, up from 26 cities in 2006 year end. As for wholesale business, around 80% of CFMA dealers have applied for FAFC wholesale financing. Total credit line of 129 approved CFMA dealers amounts to several billion yuan. In addition, 4 Volvo dealers have been approved with credit line and another 20 are applying.
Showing his confidence in future prospects of the company, Mei-Wei Cheng says: "Ford Motor Company's strategic plans for China have been successfully put in place. With the efficient cooperation among different joint ventures and business units, and the introduction of more and more exciting new products, we are driving on the fast track to a fruitful future."
Appendix:
Retail Sales Record of Ford Motor Company in China (2007 first half)
2007
Jan - Jun
2006
Jan - Jun
Year-on-year growth
Ford Brand / Lincoln
84,427
69,110
+22.16%
Volvo, Jaguar and Land Rover
8,779
5,285
+66.11%
FMC in China total (including Ford, Lincoln, Volvo, Jaguar and Land Rover)
93,206
74,395
+25.29%
Changan Ford Mazda Automobile Wholesale Results (2007 first half)
2007
Jan - Jun
2006
Jan - Jun
Year-on-year growth
Changan Ford Mazda Automobile Wholesale
93,587
59,596
+57.04%
Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., U.S.A., manufactures and distributes automobiles in 200 markets across six continents. The company’s automotive brands include Ford, Jaguar, Land Rover, Lincoln, Mazda, Mercury and Volvo. Its automotive-related services include Ford Credit and QualityCare. Ford Motor Company celebrated its 100th anniversary in 2003.
Ford’s history in China can be traced to 1913, when its first Model T was imported and sold in Shanghai. Presently, Ford owns 30% of the shares of Jiangling Motors Corporation Ltd., which produces Ford commercial vehicle Transit and other products. Ford Motor Company also has a 50-50 passenger car joint venture with Changan Automotive Corporation Ltd., which is called Changan Ford Automobile Corporation Ltd. Changan Ford has successfully launched two Ford passenger cars models, Fiesta and Mondeo, to the market. Ford Mondeo won Motor Trend "2005 Car of the Year, China". Its third product, the all-new Ford Focus, has been built in Chongqing since the 3rd quarter of 2005. In early 2005, Changan Ford's second passenger car plant in Nanjing started construction. On April 19, 2005, Ford, Changan and Mazda announced a new three-way engine plant joint venture, Changan Ford Mazda Engine Company Ltd., and the new plant has been in production since April 26, 2007.
In March, 2006, the Chinese government approved Mazda's investment in Changan Ford. The restructured company has been renamed as Changan Ford Mazda Automobile Co., Ltd. (CFMA). Changan, Ford and Mazda holds 50 per cent, 35 per cent and 15 per cent shares in CFMA respectively.
On the import business, Ford Maverick, a member of the world-renowned Ford SUV product line, has also been on sale in China. Lincoln Navigator, a premium full-size SUV was launched in China market in May 2005.
Products of the other Ford Motor Company affiliated brands, including Jaguar, Land Rover, Mazda and Volvo are on sale in China as well. Ford's service brand, Ford QualityCare, is also serving the customers in China.
Source: Ford Motor Company
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