China Represents Glimmer Of Hope For Ford
And back to the news.
China is a land of great contradictions – extreme socialist government co-habitating with a burgeoning capitalist market. With this new found wealth, Chinese consumers are searching for more useful ways to part with their hard labored Renminbi. And as moneyed fashion would have it, bicycles are going out.
Ford apparently holds a growing answer to a growing pot luck of potential buyers. In the first quarter of this year, Ford's sales and that of its Premier Auto Group (PAG) rose by 16.4% over the same period last year. That represents sales of 42,746 cars sold.
While this does not in the slightest make up for the enormous losses the Detroit giant continues to suffer in the all-important North American market, it does offer a glimmer of hope.
[Source: Ford]
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As noted, the absolute sales numbers are small. And Ford hasn’t been nearly as aggressive as GM in China.
Quite so, Dr. But every li’l bit helps with FoMoCo.