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American auto firm Ford Motor Co reported sales growth in its two China ventures in April. The sales cap signals the incipient recovery of the world’s largest car market after suffering from pandemic-driven lows.
Chongqing Changan Automobile Co Ltd, Ford’s major joint venture in China, marked a 38.3% sales increase from the same period in 2019, selling 20, 465 vehicles in April.
Ford’s minor venture, owning shares in Jiangling Motors Corp Ltd, was also successful as the Chinese firm reported a 7.8% sales growth after selling 28,028 vehicles in April. Aside from its locally branded vehicles, JMC also sells Ford sport-utility vehicles.
The growth caps clearly signals Ford’s recovery as the two China ventures reported a 34.9% decline in its January-March sales.
Meanwhile, Ford’s rival, General Motors also reported successful China ventures as its partner firms tallied double-digit growth in April.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
KYC Policy