Ford Motor Co. said its vehicle sales in China rose 40 percent last year as customers bought more Focus compact cars and Fiesta subcompacts in the world’s largest auto market.
Deliveries rose to 582,467 vehicles, the Dearborn, Michigan-based automaker said today in an e-mailed statement. Sales in December rose 52 percent from a year earlier to 56,880.
Ford’s full-year sales in China climbed to a record as rising disposable incomes and economic growth spurred auto demand. The company forecasts 70 percent of its growth in the next 10 years will come from the Asia-Pacific region and Africa.
The company and its passenger-vehicle joint venture Changan Ford Mazda Automobile Co. are building a new plant in the southwestern Chinese city of Chongqing and also plan to set up a new engine plant there. The venture added 100 dealerships in the nation in 2010, taking the total to 340.
Ford rose 1.8 percent to $18.22 yesterday in New York trading. The stock gained 68 percent in 2010.
Changan Ford sold 403,283 vehicles last year, an increase of 34 percent, the U.S. automaker said. Ford’s commercial vehicle venture in China, Jiangling Motors Corp., boosted sales 56 percent to 178,999.
Ford’s China sales still trail those of U.S. rival General Motors Co., the largest foreign automaker in China, which said Jan. 4 its local sales rose 29 percent to 2.35 million vehicles. Toyota Motor Corp., the world’s biggest carmaker, increased deliveries in China 19 percent to 846,000, it said this week.
Industrywide auto sales in China rose 29 percent to a record 1.34 million in November as customers rushed to take advantage of government incentives for car purchases that may expire at the end of the year. Figures for December and 2010 have not yet been released.
--Liza Lin. Editors: Kae Inoue, Ian Rowley