Ford Warns China Car Sales Will Be Flat This Year

The car giant expects 23 million to 24 million car sales in China, compared with 24 million last year.

“At best we’re saying flat, probably down,” Ford’s chief financial officer Bob Shanks told the BBC.

If sales do fall, it would be the first time since 1990 that there has been a drop, he added.
Despite the overall picture, Ford itself expects to do “quite well” in China due to four new car models and a new factory, Mr Shanks said.

He said falls in commercial vehicle sales were driving the overall decline in industry sales in China.

“That’s usually closely tied to consumer confidence, investment in business and so forth.
“So we think this is just a side effect of the government’s move to transition the economy from one that’s more export oriented and investment focused to one that’s more consumer oriented,” he added.

via BBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza