Ford and GM Both SURGE in US and China
Despite an Escape utility vehicle catching fire on a dealer lot, Ford (NYSE:F) sales beat expectations in the United States in August. Now the news is in from China, where Ford sales are up a whopping 39 percent, totaling 48,631 vehicles in the country. China is the world’s second largest car market, and Ford plans to double its production capacity and introduce 15 new vehicles to the country by 2015.
General Motors (NYSE:GM) which also posted strong numbers for U.S. sales in August, climbing 10 percent from last year, with credit going to heavy advertising during the Olympic Games. In China, the company set an August sales record by rising 7.3 percent from last year. This follows strong numbers for the first eight months of the year, which were up 11.2 percent for a total of 1.84 million units.
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