Ford Motor Co. (NYSE:F) car sales in China grew 3% in the June quarter compared to the same quarter a year ago due to strong demand following the easing of coronavirus pandemic restriction.
Ford reports a 78.7% sequential growth in sales in China
For the US automaker, this will be the first time in almost three years witnessing an increase in quarterly car sales. In Q2 2020, the company reportedly sold around 158,589 cars, a 3% YoY growth, and a sequential-quarter sales increase of 78.7%. Ford reported solid YoY growth of 60.9% in sales of commercial transit vehicles and Lincoln luxury cars, which grew 12.0%. The US was depressed in the quarter due to the effects of the COVID-19 pandemic, and the company reported over a 30% drop in sales.
Various analysts gave their outlook and target price of Ford stock with the 12-month average price being around $7.24, an increase of 2.46% from the previous forecast. Morgan Stanely’s Adam Jonas expects the Ford to post EPS of $0.90 this year. He predicts a YoY drop in Q3 sales by 12% down from the 15% previously anticipated. This is due to a stronger than anticipated US SARR used vehicles rebound and supportive automobile credit.
Police in Italy mistake a Ford Focus of driving at 437 mph
Can a Ford Focus go at a speed of 437 mph? This is the dilemma an Italian motorist found after a faulty speed camera caught them cruising at 437 mph in a stretch where they are supposed to do 43 mph. The driver was fined $1000 and 10 points on their license, but it seems the police issued the fine without checking the ridiculous figures.
Interestingly a Ford Focus has a maximum speed limit of 155mph, and obviously, it wasn’t going at that speed. A 437 mph speed will make the Ford Focus the fastest car surpassing the Bugatti Chiron that recently broke the 300 mph barrier.