3 6 Ke·2025-09-25 10:28Core Points - Ford China has established a new subsidiary, Ford Automotive Sales and Service (Shanghai) Co., Ltd., to oversee marketing, sales, and after-sales service for Ford passenger cars and pickups in China [2] - Chen Xiaobo has been appointed as the president of the new subsidiary, bringing extensive experience from his previous roles in Ford's joint ventures in China [2] - Jiangling Motors has signed a distribution service contract with Ford Sales Service Company for the distribution of Ford-branded vehicles produced by Jiangling [2] Summary by Sections Ford's Strategy in China - The establishment of a unified sales channel aims to enhance Ford's business performance in China, where the company has faced challenges [2] - Ford's sales in China have been significantly impacted by the performance of its joint ventures, particularly Jiangling Ford, which has seen declining sales figures from 48,000 units in 2022 to 39,000 in 2023 and projected 35,000 in 2024 [4] Joint Ventures and Performance - Jiangling Motors has a long-standing partnership with Ford, initially focusing on commercial vehicles and later expanding into passenger cars [3] - Jiangling Ford's revenue has fluctuated, with reported figures of 124 million yuan in 2022, 643 million yuan in 2023, and 5.323 billion yuan in 2024, while net profits have been negative during the same period [4] Long-term Partnerships - Changan Ford, established in 2001, has been a key player in Ford's passenger vehicle segment in China, contributing nearly half of Ford's total sales in the region [6] - Changan Ford achieved profitability in 2024, reporting revenue of 48.33 billion yuan and a net profit of 2.09 billion yuan, a significant turnaround from a loss of 2.06 billion yuan in 2023 [7] Market Position and Future Outlook - Ford's recent restructuring efforts include the formation of a fully-owned subsidiary to streamline sales and service operations, aiming to improve brand image and customer satisfaction [11] - The new strategy includes a focus on core business areas, localizing electric vehicle development, and expanding export operations, with a reported profit of approximately 600 million USD (about 4.27 billion yuan) in 2024 [10][8] - The integration of sales channels is expected to create a more cohesive brand experience for consumers, with plans to establish a unique "Ford Horizon" lifestyle system [12]