Big Gains for Toyota and Ford in China
Auto sales in China grew at the fastest rate we've seen in nine months in October. That growth came thanks to an uptick in economic growth in China, and thanks to a rebound in demand for Japanese brands. The Japanese automakers have had a rough year in China. Sales dropped sharply last fall after a China-Japan dispute over some islands led many Chinese to boycott Japanese brands for patriotic reasons.
But those feelings are fading, and Chinese auto buyers are returning to Japanese brand dealerships. Toyota in particular was a big beneficiary, with sales rising 80% in October. Honda also did well.
But as Motley Fool contributor John Rosevear explains in this video, the story in China last month wasn't just about Japanese brands. Ford posted yet another big sales gain for the month, as its remarkable growth story stayed on track.
You can still profit from China's massive auto boom
U.S. automakers boomed after WWII, but the coming boom in the Chinese auto market will put that surge to shame! As Chinese consumers grow richer, savvy investors can take advantage of this once-in-a-lifetime opportunity with the help from this brand-new Motley Fool report that identifies two automakers to buy for a surging Chinese market. It's completely free -- just click here to gain access.
The article Big Gains for Toyota and Ford in China originally appeared on Fool.com.Fool contributor John Rosevear owns shares of Ford and General Motors. You can connect with him on Twitter at @jrosevear. The Motley Fool recommends Ford and General Motors, and owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.