Ford Motor Co. plans to cut jobs in China, potentially by more than 1,300, as its sales decline in the world’s biggest car market, local media including Economic Daily News reported.
Ford’s wholesales in China fell below half a million units for the first time in a decade in 2022, continuing a slide since 2016, when the US automaker shipped 1.27 million vehicles and had a market share of 4.6%. That share dropped to 2.1% last year, as Chinese consumers increasingly embrace electric vehicles made by the likes of Tesla Inc. and local players such as BYD Co.
