GM, Ford Quarterly China Sales Slide Again Amid Economy Woes

[rainman + 263]

General Motors Co (GM.N) and Ford Motor Co (F.N) announced their quarterly sales in China fell, albeit at a slower pace sequentially, as the U.S. automakers were hit by a slowing economy amid the Sino-U.S. trade war. GM’s vehicle sales in China for the quarter ended June 30 dropped 12.2%, while Ford’s sales slumped by 21.7%. While GM also suffered from heightened competition in its key mid-priced SUV segment, Ford was hurt by the limited new models for customers to choose from. For the first quarter of this year, Ford’s sales in China tumbled 35.8 percent while GM’s skid 17.5 percent. Still, the numbers from GM, the second biggest international automaker in China by sales, and Ford portend more uncertainty for the industry which is trying to rebound from a downward spiral that led to its first annual sales decline last year in more than two decades. GM delivered 1.57 million vehicles in China in the January-June period this year, while Ford delivered 290,321 vehicles.

[Pavel + 384]

someone said, trade war without losses....

[francoba + 93]

1 minute ago, Pavel said:

someone said, trade war without losses....

.. and of course, cause - effect relationship:

FORD stocks fall

https://www.capitalstreetfx.com/en/ford-stocks-fall-after-reporting-drop-in-quarterly-china-sales/

 

[damirUSBiH + 327]

Fall of Ford in China now is now permanent... This trade war will effect Tesla's China sales. Tesla (one of its sources) says it will be producing cars in China by year end. It wont be easy

[pinto + 293]

22%!? Too much to be good on the end...

[Pavel + 384]

No comment

[4cryingoutloud + 21]

The primary reason is Ford and GM make junk. As the China market matures, so do its consumers and producers. Local brands are now the equal or better, and at lower price.