DETROIT – Ford Motor joined rival Crosstown General Motors in reporting its worst quarterly sales in China since the beginning of the coronavirus pandemic, amid a resurgence of Covid cases in the country and persistent disruptions to the global supply chain.
Ford said it sold 120,000 cars in the current quarter, about 22 fewer than the previous year and its worst sales in Greater China since the fewer than 89,000 games sold in the first quarter of 2020, when government-imposed covid restrictions brought production from the country. to a stalemate.
On an overdue Thursday, Ford said June sales rose exponentially as restrictions were relaxed, with total sales topping 50,000 units, up 3 percent year-over-year and 38 percent month-over-month.
“The resurgence of the pandemic in recent months has challenged us to triumph over logistics and supply chain hurdles to position Ford for expansion in the current part of the year,” Anning Chen, president and chief executive officer of Ford China, said in a statement.
But there can still be challenges. The daily number of Covid cases in mainland China, adding those without symptoms, has risen from a handful of cases to about two or three hundred new cases in recent days. Due to Covid more than doubled in a week to 11 on Monday, up from five the previous week, according to Ting Lu, China’s lead economist at Nomura.
GM on Wednesday reported a 35. 5 drop in second-quarter sales in China to 484,200 cars, its lowest sales from 461,700 cars in the first quarter of 2020.
– CNBC’s Evelyn Cheng contributed to this report.
Do you have confidential news tips? We to hear from you.
Sign up for loose newsletters and get more CNBC in your inbox
Get this in your inbox and more information about our and services.
© 2022 CNBC LLC. All rights reserved. An NBCUniversal department
The data is a real-time snapshot * The data is behind in at least 15 minutes. Global monetary and industry news, inventory quotes, and market knowledge and analysis.
Data also by