Nearly one year ago, a somewhat surprising report surfaced claiming that Ford had effectively given up on becoming a “major player” in the Chinese automotive market, which was quite shocking given the fact that it’s the world’s largest. However, China is ripe with competition, and domestic automakers enjoy quite a few perks that aren’t extended to foreign ones, making it more difficult to compete. Regardless, Ford China has enjoyed some success over the past year or so, and now, we’re learning just how many vehicles it sold in 2024.
According to Felipe Munoz of JATO Dynamics, that number is 171,479 vehicles, a six percent year-over-year decrease for Ford China, but also, enough to make it The Blue Oval’s fourth-best market. The U.S. still ranks first by a mile with 1,960,338 units sold in 2024 (a three percent year-over-year increase), while Canada ranks second with 260,504 sales (a 16 percent increase), followed by the UK at 222,657 vehicles (a 10 percent decrease).
While Ford remains concerned about competing with Chinese automakers as they continue to expand to other countries around the globe, its own Chinese business has been quite profitable as of late. As Ford Authority recently reported, Ford China made $900 million in earnings before interest and taxes in 2024, more than the $600 million originally reported. Regardless, this news is notable given the fact that Ford typically doesn’t report earnings by region, so it gives us a little insight into how Ford China is performing.
It’s also notable given how automakers not based in China have historically struggled to gain market share in the world’s largest automotive market. In fact, as Ford Authority recently reported, Ford’s cross-town rival, General Motors, is in the midst of cutting jobs from its Chinese research and development department, a move made in response to its $104 million dollar loss in Q2 of 2024, as well as $210 million in the first half of 2024.
It has begun a small pilot program.
It experienced quite a lot of success on the track.
Some big changes may be in store.
They remain rather high, comparatively speaking.
Special lease deals available on the rugged crossover.
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A Ford deve se preocupar na qualidade de seus produtos, é inadmissível uma empresa com 100 anos de história, gerar tantos recalls, de uma década para cá estão exorbitantes.
It will only decline from there. China only wants Chinese companies.