Recently, during this year's Q3 earnings call, Ford CEO Jim Farley revealed that China and its exports contributed over $600 million to Ford's pre tax profit this year.
Light assets are the key to Ford's profitability in China. Ford CFO John Lawler introduced that "Ford's profits in China mainly come from our joint ventures or Jiangling Motors' export strategy, exporting these cars to other regions in Asia and South America.
In 2022, Ford's sales in China decreased by 34% year-on-year, and its market share also dropped to 2.1%. In 2023, Ford will begin to adjust its China strategy, streamline its business, and vigorously promote its export business.
Text and pictures/Guangzhou Daily Xinhua City Reporter: Zhou Weili