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Ford reports 22% decline in China sales for Q2 2022
By Yashasvini Razdan - Jul 08, 2022, 04:13 PM ET
Last Updated - Mar 11, 2024, 02:47 PM EDT
Ford sold 120,000 vehicles during the second quarter in Greater China
• Ford sold 120,000 vehicles during the second quarter in Greater China
Ford Motors (NYSE: F) reported a 22% decline in China sales in the second quarter from a year ago, due to a resurgence of Covid cases in the country and ongoing global supply chain problems.
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The automaker said that it sold 120,000 vehicles during the second quarter in Greater China, the lowest since the fewer than 89,000 units it sold during the first quarter of 2020, when government restrictions halted production across the country.
“The pandemic’s resurgence in the past few months challenged us to overcome supply chain and logistics obstacles to positioning Ford for growth in the second half of the year,” said Anning Chen, president and CEO, Ford China.
Overall sales in June exceeded 50,000 units, up 3% year over year and 38% month over month. Momentum in June was driven by strong passenger vehicle sales.
Ford brand passenger vehicle sales exceeded 20,100 units, up 26% year-over-year, including 11,400 SUVs, up 27% compared to the same period last year.
Source - Ford
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