Ford’s China ventures increase May sales as market rebounds

BEIJING (Reuters) – Ford Motor’s China ventures have reported year-on-year sales growth for May in a sign of how the world’s biggest auto market is continuing its recovery from coronavirus-induced lows.

The U.S. automaker’s Chongqing-based venture with Changan <000625.SZ> sold 23,491 vehicles in May, up 130% from a year earlier, it said on Thursday.

Jiangling Motors Corp (JMC) <000550.SZ>, in which Ford owns a stake, said in a filing on Wednesday that it sold 29,008 vehicles last month, up 32% year on year.

Separately, Ford also said that sales of its luxury Lincoln brand in China reached 5,000 units last month, up 22%.

(Reporting by Yilei Sun and Brenda Goh; Editing by David Goodman)