Carmaker announces massive sales fall, amid global finance crisis




Ford China sales fall amid US trade war, tariffs, economic slowdown

  • Ford sales in China tanked 43% in September year-over-year.
  • The drop is attributed 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 most 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, including President Donald Trump's trade war and 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 with the same month last year and were down 30% through the first nine months of 2019 compared with the same period in 2019.

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

  • Changan Ford Automobile sales were down 55% in September compared with 2019.
  • Jiangling Motors Corporation sales declined 15%.
  • Imported Ford sales fell 16% for the month and were 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 numerous explanations for the collapse in sales for Ford and the Chinese auto market in general:

Add up all of those elements, and you end up with the sales disaster.

The collapse in Chinese sales isn't the only trade-related problem for Ford. CEO Jim Hackett revealed that Trump's decision to impose tariffs on steel and aluminum coming into the US would .

The company also decided not to import a new SUV from China to the US, citing the trade war as the reason for the decision.

The trade war is exacerbating longstanding issues at the automaker, which is already carrying out a global restructuring.





Video: Business Report: Stocks fall on China-U.S. trade war worries

Ford China sales fall amid US trade war, tariffs, economic slowdown
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Date: 09.12.2018, 21:51 / Views: 92281