Ford's (NYSE:F) sales in China, the world's largest automotive market, surged 55% in October to reach 93,969 wholesale vehicles, the company announced today. It's not a one-off wonder either, as year-to-date sales are up 52% for a total of nearly 742,000 wholesale units.
Ford's Focus continues to sell extremely well in global markets and led the company's sales in China with 39,710 wholesales in October -- an impressive 18% improvement. Even more impressive is the Focus' 48% increase in sales year-to-date.
Ford continues to launch new vehicles to juice its impressive year-over-year comparisons, and plans to have launched 15 new models in the region by 2015. Ford's Mondeo, the Fusion renamed overseas, launched at the end of August and sold almost 8,000 units in October. Following the rebounding industry trend, China's demand for SUV's continues to improve and bodes well for Ford's lineup of the Explorer, Edge, Kuga (Escape), and EcoSport.
Ford finished October with hitting a huge milestone in its Asia Pacific region, which is dominated by China's sales, topping more than one million vehicles sold for the first time.
Ford continues to improve sales in China to achieve its goal of 6% market share in the region by 2016. That would effectively double its market share from a few years back, and it currently sits at 4.3% as of the third quarter.
Fool contributor Daniel Miller owns shares of Ford. The Motley Fool recommends Ford. The Motley Fool owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.