China auto sales declined 8.2% in 2019

Ford's vehicle sales in China tumble for third consecutive year

Predictions for the future of the Chinese market do not make pleasant reading for either Ford or Tesla, with the China Association of Automobile Manufacturers (CAAM) forecasting that the auto market will shrink by 2% in 2020 as the Chinese economy weakens and the Trade War with the USA continues to rumble on.

Total vehicle sales, including trucks and buses, was off 8.2 percent at 25.8 million. Last year, Ford overhauled its management team under Mr. Chen-who was appointed in late 2018 as Ford's seventh China chief in 10 years-after he turned around Chery Automobile Co.

China's new New Energy Vehicle (NEV) policy is mainly led by MIIT, whose top official, Miao Wei, confirmed on Saturday that NEV subsidies would remain "relatively stable" in 2020.

Sales of new energy vehicles (NEV) sank 27.4 per cent in December, resulting in an overall 4 per cent decline to 1.24 million units in 2019.

The industry ministry said over the weekend that China will not make significant cuts to subsidies for NEVs this year, which reassured carmakers. Executives at automakers such as Geely and Ford Motor Co partner Chongqing Changan Automobile Co Ltd have said they expect fiercer competition to weed out weaker players.

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On Monday, Ford said its China auto sales slumped more than a quarter in 2019 for its third year of decline.

Sales by Ford Motor Co.'s joint ventures fell 26.1 percent to 567,854.

The U.S. automaker has been hit by the same factorS that also slammed GM's sales there. He also said that while 2019 was a "challenging" year for the company, it did stabilize its market share in the high-to-premium segment; however, this was not enough to prevent a slide in Ford stock. Sales sank 37 per cent in 2018, after a 6 per cent decline in 2017.

The auto maker has been cutting costs, working to mend ties with its dealers and rolling out new models, including the Focus Active crossover sport-utility vehicle and an electric SUV, Ford executives said in October.

Among models that were launched in the fourth quarter, the new Ford Escape performed better than any other model in terms of received orders, while the Lincoln Corsair is the first localized Lincoln vehicle in China. That would compare with 8.2% previous year when sales were pressured by new emission standards in a shrinking economy that was contending with tit-for-tat import tariffs with the United States.

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