Ford Plans To Cut 1,300 Jobs In China As Sales Drop - $F
- last year
Ford Motor Co is planning to slash more than 1,300 jobs in China as sales decline.
Ford's wholesales in China, the world's biggest car market dropped below half a million units for the first in a decade in 2022, reported Bloomberg.
The automaker's sales have continuously slipped since 2016, the year in which it shipped 1.27 million vehicles with 4.6% market share.
The market share plunged to 2.1% in 2022 as Chinese consumers largely preferred electric vehicles.
"Our costs are not competitive, and we are working internally and with our partners to reduce costs in all areas," the report quoted a Ford spokeswoman.
Ford's wholesales in China, the world's biggest car market dropped below half a million units for the first in a decade in 2022, reported Bloomberg.
The automaker's sales have continuously slipped since 2016, the year in which it shipped 1.27 million vehicles with 4.6% market share.
The market share plunged to 2.1% in 2022 as Chinese consumers largely preferred electric vehicles.
"Our costs are not competitive, and we are working internally and with our partners to reduce costs in all areas," the report quoted a Ford spokeswoman.