Ford Motor Company's (F 0.50%) two joint ventures with Chinese automakers both reported year-over-year sales growth for April, in the latest sign that China's new-car market is recovering from the effects of the coronavirus pandemic.
Ford's joint venture with Chongqing Changan Automobile sold 20,465 vehicles in April, up 38.3% from April of 2019, Changan said in a filing with the Shenzhen stock exchange.
The joint venture, called Changan Ford, builds and sells Ford- and Lincoln-brand cars and SUVs for the Chinese market.
Ford launched a version of its all-new Escape in China late last year, one of many new products that it has promised to bring to the country. Image source: Ford Motor Company.
Ford's other joint venture, called Jiangling Motors (JMC), reported in its stock-exchange filing that it sold 28,028 vehicles in April, up 7.8% from a year ago. JMC builds and sells commercial trucks and SUVs under the Ford and JMC brands.
Ford's sales in China fell 34.9% in the first quarter, as the COVID-19 outbreak shuttered dealerships and kept consumers home in many parts of the country.
Ford's sales in China also include Ford- and Lincoln-brand vehicles that are imported from other countries, including the United States. Ford reports its total sales in China quarterly.
Ford's operation in China has struggled since mid-2017, when its sales began to fall after several years of promising growth. Ford restructured its China operation last year, installing new leadership, mending relationships with dealers, and promising a slew of new products over the next few years.
Ford lost $241 million in China in the first quarter.
