Ford Motor Co. reports a doubling in its sales in China the first nine months as foreign carmakers experience strong sales in the Chinese market. Ford sold 114,685 autos in the period from January to September, a rise of 105.5% from the same period in 2005, Ford said.
The rise was boosted by strong sales at Ford's local passenger car joint venture, Changan Ford Mazda Automobile, which reported a 147% increase to 87,930 units in the nine-month period.
Meanwhile, German carmaker Volkswagen said in statement its sales in the first three quarters of the year reached 524,558 units, a rise of 28.7% from a year earlier.
China's auto market is continuing to expand but competitive pressures will force down profitability further and likely lead to consolidation within the industry, ratings agency Standard and Poor's said in a report last month.
Copyright Agence France-Presse, 2006