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Sales in China plummet Ford seeks "Localization" Rescue

Translation 10:45:25AM May 06, 2019 Source:Wall Street news

SMM News: in order to adapt to local operations, Ford has made major changes in team strategy.

More than 30 foreign managers have "relocated" to other business units since the start of the year, replacing them with Chinese, the Financial Times quoted people familiar with the matter as saying.

"Foreign workers are very expensive," says Bill Russo, Ford's former head of Asian manufacturing. "Localization of employees is a trend that has been accelerated by a company that may be experiencing some financial difficulties."

Since the beginning of the year, Ford has announced the appointment of vice president of marketing and vice president of product innovation in China, both of whom are Chinese.

Ford's car sales fell 4.7% in April from a year earlier, according to the latest figures released earlier this month. The group also reported that Ford's sales in China fell 37 per cent last year at a loss of $1.7 billion, the biggest drop in the Chinese market for large international manufacturers.

The core reason for Ford's continued decline in sales is that it has not launched brand-new models that meet the needs of the market in the past three years, and that it continues to launch strong products in the face of competitors. Ford's response to change is clearly out of place.

In view of this, Ford has put new cars on the agenda, and according to its latest plan, Ford will launch 30 new models (including Ford and Lincoln brands) within three years, and further reduce the speed of product upgrades by 30%. I hope to win back the attention of the market by constantly pushing through the old and bringing forth the new.

Key Words:  Ford  cars  sales  China 

Sales in China plummet Ford seeks "Localization" Rescue

Translation 10:45:25AM May 06, 2019 Source:Wall Street news

SMM News: in order to adapt to local operations, Ford has made major changes in team strategy.

More than 30 foreign managers have "relocated" to other business units since the start of the year, replacing them with Chinese, the Financial Times quoted people familiar with the matter as saying.

"Foreign workers are very expensive," says Bill Russo, Ford's former head of Asian manufacturing. "Localization of employees is a trend that has been accelerated by a company that may be experiencing some financial difficulties."

Since the beginning of the year, Ford has announced the appointment of vice president of marketing and vice president of product innovation in China, both of whom are Chinese.

Ford's car sales fell 4.7% in April from a year earlier, according to the latest figures released earlier this month. The group also reported that Ford's sales in China fell 37 per cent last year at a loss of $1.7 billion, the biggest drop in the Chinese market for large international manufacturers.

The core reason for Ford's continued decline in sales is that it has not launched brand-new models that meet the needs of the market in the past three years, and that it continues to launch strong products in the face of competitors. Ford's response to change is clearly out of place.

In view of this, Ford has put new cars on the agenda, and according to its latest plan, Ford will launch 30 new models (including Ford and Lincoln brands) within three years, and further reduce the speed of product upgrades by 30%. I hope to win back the attention of the market by constantly pushing through the old and bringing forth the new.

Key Words:  Ford  cars  sales  China