Ford Motor Co. reported Friday that Ford sales in China for August 2014 rose 9% to 77,506 vehicles from 71,183 vehicles in August 2013. That follows a 25% rise in July and 17% in June. For the first eight months of 2014, Ford sales are up 30% from the first eight months of 2013.
According to the China Association of Automobile Manufacturers, Ford was the best-selling brand in China for the first seven months of 2014.
As China’s economy expands and a middle-class begins to emerge, modern conveniences such as personal vehicles are becoming in high-demand. The 1.3 billion people in China make up the world’s largest market for goods, and the second largest economy. Long considered merely a source for cheap labor and manufacturing plants, China is consuming goods and services at an increasing rate.
Despite cooling off from double-digit GDP growth in the beginning of the century (reaching as high as 14.2% in 2007), China’s economy continues to register strong growth numbers. According to the World Bank, China enjoyed GDP growth of 7.7% for 2012 and 2013, and the rate is expected to stay above 7% through 2016.
Ford plans to bring 15 new vehicle models to China in late 2014 and 2015, including the Escort, Mustang, and Everest, as well as the Lincoln brand. Ford plans to open new assembly plants in Chonqing in late 2014 and Hangzhour in 2015.
Ford makes vehicles in China in partnership with Chongqing Changan Automobile Co Ltd and Jiangling Motors Corp Ltd.
Meanwhile, in the United States, Ford sales saw just 0.4% growth in August 2014 compared to August 2013.