Group 1 - Changan Ford's wholesale sales in China are projected to drop to 121,500 units in 2025, with retail sales at only 99,400 units, marking a significant decline from 247,000 units in 2024 [1] - The drop below the critical annual sales threshold of 100,000 units indicates severe operational pressure for the company, as this level is essential for cost-sharing and maintaining dealer network stability [1] - Changan Ford's sales have been on a downward trend since reaching a peak of 957,000 units in 2016, with a notable decline to below 200,000 units in 2019 and further drops in subsequent years [1] Group 2 - The sales structure is heavily imbalanced, with the Mondeo model alone accounting for 47,000 units, nearly half of the brand's total sales, indicating a vulnerability to market risks [2] - Changan Ford has eliminated popular models like the Focus to pursue higher unit profits, resulting in a gap in the 100,000 yuan price segment, which has led to a loss of market share as competitors adopt aggressive pricing strategies [4] - Changan Ford's sales have consistently declined for five consecutive months, with only 76,000 units sold in the first five months of 2025 [4] Group 3 - Changan Automobile reported total sales of 2.913 million units in 2025, with a significant 85% coming from its own brands, indicating a reduced reliance on joint ventures [5] - The decline in Changan Ford's performance reflects broader challenges faced by many joint venture brands in adapting to the rapidly evolving electric vehicle market, where domestic brands dominate with over 70% market share [5] - Traditional advantages of joint venture brands, such as durability and fuel economy, are losing relevance in the electric vehicle sector, where many brands struggle with outdated technology and insufficient range [5]

2026.01. 21 本文字数：918，阅读时长大约1.54分钟 作者 | 第一财经 葛慧 10万辆/年，在业内通常被认为是汽车销量规模的关键临界点，跌破10万辆意味着研发制造成本和产 能利用率拉响警报。 曾经一年卖出近百万辆的合资品牌长安福特，今年已跌破上述生存红线。 据懂车帝援引的乘联会数据统计，长安福特2025年1~12月在华批发销量12.15万辆，零售销量9.94 万辆。这两个数据相比该品牌2024年24.7万辆的销量，均明显腰斩。 一般而言，由于批发销量存在向经销商压库等因素，零售数据更能体现终端市场的真实情况。这也意 味着，若按零售销量，长安福特多年来首次跌破10万辆/年的生存红线。 零售销量来看，最多的蒙迪欧一年买了4.7万辆，在所有车型销量中占到半数比重。作为福特电动化 开山之作，福特电马只卖了35辆，且销售数据自8月开始无记录。 | | 长安福特2025年度销量统计 | | | --- | --- | --- | | | 琴售量 | 批发量 | | 蒙迪欧 | 47075 | 68019 | | 锐界 | 32276 | 34087 | | 探险者 | 13569 | 13543 | | ...

Core Insights - Changan Ford's sales have significantly declined, falling below the critical threshold of 100,000 units per year, which raises concerns about manufacturing costs and capacity utilization [1][3] - In 2025, Changan Ford's wholesale sales in China were reported at 121,460 units, while retail sales were only 99,364 units, indicating a substantial drop compared to 2024's sales of 247,000 units [1][2] - The retail sales data suggests that Changan Ford has experienced its first drop below the 100,000 units per year survival line, with the Mondeo model accounting for a significant portion of sales [1][2] Sales Performance - In 2025, the retail sales breakdown shows the Mondeo sold 47,075 units, the Edge sold 32,276 units, and the Explorer sold 13,569 units, while the Ford Mustang Mach-E only sold 35 units [2] - Changan Ford's sales have been on a downward trend since reaching a peak of 957,000 units in 2016, with sales dropping to 184,000 units in 2019 and further declining to 233,000 units in 2023 [3] - The company saw a brief recovery in 2021 with sales reaching 304,700 units, but this was followed by consecutive declines in 2022 and 2023 [3] Market Position - Changan Ford's parent company, Changan Automobile, reported that in 2025, its total sales reached 2.913 million units, with 2.468 million units coming from its own brands, representing 85% of total sales [3] - The decline in Changan Ford's sales has led to a shift in focus towards its own brands, as indicated by the lack of official sales announcements from Changan Ford's shareholders [3]

Core Viewpoint - Ford's launch of the 2026 Mondeo has sparked significant backlash from existing owners of the 2022-2025 models, who are dissatisfied with the performance of their vehicle's infotainment system, which they claim has become unusable and poses safety risks [2][3][5] Summary by Sections Product Launch and Customer Complaints - The 2026 Mondeo has been officially launched with a price range of 149,800 to 199,800 yuan, featuring upgrades in power, intelligence, and design [3] - Existing Mondeo owners have reported severe issues with their vehicle's infotainment system, describing it as outdated and non-functional, leading to frustrations over the lack of promised features [5][7] Infotainment System Issues - The older Mondeo models are equipped with the Qualcomm 820A chip, which has been criticized for frequent lag, system crashes, and safety concerns, including incidents of blackouts while driving [5][7] - Owners are demanding software upgrades to improve connectivity and are willing to pay for hardware upgrades to newer systems, but Ford has stated that such upgrades are not feasible due to hardware limitations [7] New Model Controversies - Ford's new electric model, the Ford Smart Mustang, has also faced criticism regarding its design and features, with consumers questioning its resemblance to other models and the necessity of additional payments for key functionalities [9][10] - The Smart Mustang is positioned as a versatile SUV with a pre-sale price between 229,800 and 272,800 yuan, but its sales performance remains uncertain amid ongoing criticisms [9][10] Financial Performance and Strategic Challenges - Ford's electric vehicle segment has reported significant losses, with a projected loss of $5.1 billion in 2024, prompting a reevaluation of its electric strategy [10][11] - Ford's sales in China have drastically declined, with 2024 projections estimating sales at 442,000 units, only one-third of its peak sales in 2016 [13][14] - The establishment of the Ford Sales Service Company aims to unify the operations of its joint ventures, Changan Ford and Jiangling Ford, which have been struggling with internal competition and declining sales [15]

Core Viewpoint - Ford's recent launch of the 2026 Mondeo has sparked significant backlash from existing owners of the 2022-2025 models, who are dissatisfied with the performance of their vehicle's infotainment system, which they claim has become unusable and poses safety risks [1][2][3] Group 1: Mondeo Launch and Customer Complaints - The 2026 Mondeo has been officially launched with a price range of 149,800 to 199,800 yuan, featuring upgrades in power, intelligence, and design [2] - Existing Mondeo owners report severe issues with their vehicle's infotainment system, citing frequent crashes and a lack of essential connectivity features, which contradicts the manufacturer's promises [2][3] - Over 360 Mondeo owners have filed collective complaints, demanding software upgrades for their current systems and the option to pay for new hardware that supports better performance [3] Group 2: New Model Criticism - Ford's new electric model, the Ford Zhiqu Lema, has also faced criticism regarding its design and configuration, with some industry experts questioning its authenticity and market appeal [4][5] - The Zhiqu Lema is marketed as a versatile SUV with a starting price of 229,800 to 272,800 yuan, but features such as the roof-lifting function and bed conversion require additional payments, leading to consumer dissatisfaction [4][5] Group 3: Financial Performance and Strategic Challenges - Ford's electric vehicle segment has reported significant losses, with a projected loss of $5.1 billion in 2024, prompting a reevaluation of its electric strategy [5][6] - Sales figures for Ford's electric models in China have been disappointing, with monthly sales often in single digits, indicating a failure in the company's transition to electric vehicles [5][6] - Ford China has established a new sales service company to unify its operations and address internal competition between its joint ventures, but the lack of a successful electric vehicle model raises concerns about the effectiveness of this strategy [8]

Core Insights - Nissan's Ariya has experienced disappointing sales in the competitive Chinese electric vehicle market, with only 1 unit sold in September 2025 and a maximum monthly sales of 988 units in October 2023 [2] - Despite being an early entrant in the electric vehicle sector with the Leaf, Nissan has struggled to replicate this success with the Ariya, which has seen persistently low sales since its launch in 2022 [2] Pricing Strategy - The pricing strategy for the Ariya, set between 270,000 to 340,000 RMB, has been a significant factor in its poor sales performance, placing it in a highly competitive segment against established brands like Tesla and emerging Chinese manufacturers [3] - Nissan's brand value does not sufficiently support the high price point in the electric vehicle market, leading to consumer reluctance to purchase [3] - Attempts to lower prices later on have resulted in negative perceptions among early buyers and potential customers, creating a cycle of distrust regarding the brand's value retention [3] Product Performance - The Ariya lacks key selling points such as advanced technology and smart features, which are crucial for attracting Chinese consumers [4] - While it maintains Nissan's traditional strengths in comfort and build quality, its performance metrics, such as a CLTC range of approximately 600 kilometers and acceleration times of 5-7 seconds, do not stand out against competitors [4] - The vehicle's software and user interface fall short compared to systems from competitors like Huawei and Xiaopeng, diminishing its appeal [4] - Issues with winter range reduction and reliability have further tarnished the Ariya's reputation, contradicting earlier claims of its battery's performance in extreme conditions [4] Market Adaptation - In contrast, the Nissan N7, launched at a starting price of 119,900 RMB, has achieved monthly sales of around 6,000 units since April 2023, indicating that Nissan may have learned from the Ariya's challenges and is adapting to the Chinese electric vehicle market [5]

Core Points - Ford China is facing significant backlash from hundreds of owners of older Mondeo models due to complaints about their vehicle's infotainment systems becoming non-functional, which raises safety concerns [1][2][3] - The launch of the 2026 Mondeo has highlighted the disparity in technology between new and old models, with the new model featuring advanced capabilities that older models lack [2][3] - Ford's new electric vehicle, the Ford Zhiqu Lema, is also receiving criticism for its design and configuration, indicating broader issues within Ford's product offerings in China [4][5] Summary by Sections Mondeo Complaints - Hundreds of Mondeo owners have collectively complained about their vehicles' infotainment systems, describing them as outdated and non-functional, which poses safety risks [1][2] - The older Mondeo models are equipped with the Qualcomm 820A chip, leading to frequent system crashes and failures in navigation and voice control [2][3] - Owners are demanding software upgrades to support mainstream smartphone connectivity and are willing to pay for hardware upgrades to newer systems [3] New Model Launch - The 2026 Mondeo has been launched with a price range of 149,800 to 199,800 yuan, featuring significant upgrades in power, intelligence, and design [2] - The disparity in technology between the new and old models has caused dissatisfaction among existing customers, who feel misled by the manufacturer's promises [2] Electric Vehicle Challenges - The Ford Zhiqu Lema, a new electric SUV, has faced criticism for its design and the necessity of paid options for key features, which has led to negative perceptions among potential buyers [4][5] - Ford's electric vehicle strategy in China has been under scrutiny, with the company reporting significant losses in its electric vehicle segment [5][6] Company Performance and Strategy - Ford China has been struggling with declining sales and profitability, with a significant drop in vehicle sales from a peak of 1.27 million units in 2016 to an expected 442,000 units in 2024 [6][7] - The establishment of the Ford Sales Service Company aims to unify the operations of its joint ventures, Changan Ford and Jiangling Ford, to improve market performance [8][9] - Despite these efforts, the lack of a successful electric vehicle model raises concerns about the effectiveness of the company's restructuring strategy [9]

Core Points - Ford's 2026 Mondeo has been launched, but existing owners of the 2022-2025 models are expressing dissatisfaction due to issues with the vehicle's infotainment system, which they claim has become non-functional and poses safety risks [1][2][4] - The company has not responded to the complaints from Mondeo owners, stating that the hardware differences between old and new models prevent upgrades to the infotainment system [6][12] - Ford's new electric model, the Ford Intelligent Mustang, is also facing criticism regarding its design and configuration, reflecting broader challenges in the company's sales and financial performance in China [7][9] Infotainment System Issues - Owners of the 2022-2025 Mondeo models report frequent system crashes and performance issues due to outdated hardware, specifically the Qualcomm 820A chip, leading to significant operational delays and safety concerns [4][5] - Complaints include the lack of promised features such as mainstream smartphone connectivity options, with owners feeling that the actual product does not match the marketing claims [5][6] Sales and Financial Performance - Ford's sales in China have significantly declined, with 2024 projections estimating only 442,000 units sold, a drop to one-third of peak sales in 2016 [14][15] - Both joint ventures, Changan Ford and Jiangling Ford, are struggling, with Changan Ford's sales down 7.56% and Jiangling Ford's down 33.8% in the first three quarters of the year [15][16] - The company has reported substantial financial losses in its electric vehicle segment, with losses projected to reach $51 billion in 2024, prompting a reevaluation of its electric strategy [10][11] Strategic Restructuring - In response to ongoing challenges, Ford China has established a new sales service company to unify the operations of its joint ventures and improve market performance [12][16] - The appointment of a new president for the sales service company aims to address internal competition and streamline operations, although the success of this restructuring remains uncertain without a strong electric vehicle offering [16][17]

Group 1 - Zhu Huarong has resigned as the chairman of Changan Ford, following his departure from the chairman position at Avita Technology, with Zhao Fei taking over the role [3] - The leadership changes at Changan Ford include the exit of Wang Jun and Wang Hui from the board, while new members such as Liu Hong, Zhang Xiaoyu, Wang Xiaofei, and Chen Yuting have been appointed [3] - Zhu Huarong stated that he will focus more on the group's strategy and other business areas after the establishment of the new central enterprise, China Changan Automobile [3] Group 2 - Zhao Fei, who has a background in technology and management, has been appointed as the new chairman of Changan Ford, having previously held various positions within the company [4] - Changan Ford is currently undergoing a transformation phase, facing challenges in its fuel vehicle sales and slow progress in its transition to electric vehicles [4] - In 2024, Changan Ford's sales are projected to rebound to 247,000 units, reflecting a year-on-year increase of 5.97% [4] Group 3 - The current models sold by Changan Ford include Mondeo, Edge, and Explorer, while the performance of the Ford electric Mustang has been underwhelming [5] - The newly appointed executives at Changan Ford have strong backgrounds in technology and electric vehicle development, indicating a shift towards innovation [5] - The recent leadership changes signify a new development phase for Changan Ford, coinciding with a major restructuring of Ford's sales channels in China [5] Group 4 - Ford China has established a new wholly-owned subsidiary, Ford Sales and Service Company, to manage marketing, sales, and service for Ford vehicles in China, with Chen Xiaobo as president [6] - The integration of Changan Ford and Jiangling Ford's sales channels is expected to enhance the sales capabilities of Changan Ford [6] Group 5 - Liu Hong, a new board member at Changan Ford, has extensive experience within the Jiangling Ford system, which may provide valuable support for product sales [7]

Core Viewpoint - Ford China is restructuring its sales channels by establishing a wholly-owned subsidiary, Ford Automotive Sales Service (Shanghai) Co., Ltd., to manage marketing, sales, and service for Ford's passenger cars and pickups in China, effective October 1 [2][4]. Group 1: Company Restructuring - The new subsidiary will consolidate the sales services of Ford's two joint ventures in China: Jiangling Ford and Changan Ford, aiming to enhance operational efficiency and profitability amid increasing market competition [3][6]. - Chen Xiaobo has been appointed as the president of the new sales service company, reporting to Ford China's president and CEO, Wu Shengbo [5][6]. - Jiangling Motors has signed a distribution service contract with the new company, indicating that it will still participate in the sales of Ford vehicles, sharing sales responsibilities with the new entity [7]. Group 2: Market Challenges - Ford is facing significant pressure in the Chinese market, with declining sales and the need for transformation, as evidenced by a 16.43% year-on-year drop in Changan Ford's sales in the first five months of the year [4][12]. - Jiangling Ford's projected sales from 2022 to 2024 are not expected to exceed 50,000 units, with losses exceeding 1.6 billion yuan during the same period [13]. - The competitive landscape in the Chinese automotive market is intensifying, prompting Ford to consolidate resources to improve efficiency and maintain competitiveness [10][14]. Group 3: Historical Context - This is not Ford's first attempt at channel integration in China; previous efforts, such as the establishment of the National Dealer Service Development (NDSD) in 2018, were unsuccessful due to limitations in resource allocation [9]. - The automotive industry expert Mei Songlin noted that the current market conditions necessitate channel consolidation to enhance operational efficiency, especially as foreign and joint venture brands face declining sales [10].