Report: Ford CEO Says China Strategy Changing

Ford Motor Company is tweaking plans in China and seeking to turn around financial losses after five years of lackluster sales within the region. CEO Jim Farley has reportedly returned from Asia to finalize those plans, which were reiterated during a press call about Ford's first-quarter earnings held earlier in the week. According to Automotive News, the executive stated that China would remain important to the company. Ford has introduced new models specifically designed to cater to Chinese customers. Still, Changan Ford only held 1 percent of all Chinese light-vehicle sales in 2022 vs the 4 percent it managed to snag in 2016. Executives have said the luxury brand is profitable in China. There are just too many potential buyers and China is aggressively pushing toward electrification and basically owns the global market in terms of battery production.