Ford Motor Co. remains “bullish on China” despite a drop in auto sales recently, a company executive said.
“Longer term, we’re still very bullish on China,” Reuters quoted Hau Thai-Tang, head of global purchasing, as saying at an auto industry conference in New York.
Hau Thai-Tang said Ford adjusted for expected lower volumes ahead of the recent downturn.
But if there is a “prolonged period of recessions” in China, the company will make moves to balance supply with demand, he said, adding, “we don’t see anything like that at this point.”
China is the world’s largest auto market by sales.
He said company is expanding its dealership network in China into the western region, where growth is expected even as the larger coastal cities see less sales growth.
Auto sales in China fell 7.1 percent in July to 1.5 million vehicles, the largest monthly sales decline in a year and a half, the news agency said. Sales have fallen for four straight months, the longest downturn in five years.
Ford’s sales in the country fell 0.7 percent at 77,100 vehicles during the period. Its sales were about a third of GM’s China sales, according to the China Association of Automobile Manufacturers.
Through July, China auto sales of 13.35 million were up 0.4 percent, compared with US sales in the first seven months of this year of 10 million, up 4.5 percent, the report said.
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