Ford Motor(US:F) 经济观察报·2025-09-25 10:26Core Viewpoint - Ford is restructuring its sales channels in China by establishing a wholly-owned subsidiary, Ford Sales Service Company, to manage marketing, sales, and service for its passenger cars and pickup trucks in the Chinese market, marking a significant shift in its operational strategy [2][5]. Group 1: Company Restructuring - On September 23, Ford China announced the establishment of Ford Sales Service Company, which will officially start operations on October 1 [2]. - Chen Xiaobo has been appointed as the president of Ford Sales Service Company, previously holding key positions in Changan Ford and other marketing roles [2]. - The new company will unify the sales of Changan Ford, Ford imported vehicles, and Jiangling Ford, which includes models like Changan Ford Edge and Explorer, as well as Jiangling Ford's Lingrui and F-150 Raptor [3][4]. Group 2: Financial Performance and Challenges - Jiangling Ford Technology Company has been operating at a loss since its inception, with revenues of 1.24 million, 6.43 million, and 53.23 million from 2022 to 2024, and net losses of 1.06 million, 8.39 million, and 6.77 million respectively, totaling approximately 16.22 million in losses over three years [4]. - As of mid-2023, Jiangling Ford Technology Company reported total assets of about 875 million and a negative net asset of 1.42 billion [4]. Group 3: Strategic Implications - The establishment of Ford Sales Service Company aligns with CEO Jim Farley's strategy to reduce investment in China and focus on high-return businesses, indicating a strategic retreat in the Chinese market [5]. - The integration of sales channels is seen as a necessary step to streamline operations and improve profitability, as the previous fragmented sales structure was no longer suitable for Ford's strategy in China [4][5].