Ford To Launch 30 New Models In China Following Drop In Sales

Ford Motor Company saw sales of its motor vehicles in China plunge 40 percent in 2018 compared to 2017. It now wants to recover that lost ground, and then some, by launching more than 30 new mdels over the next three years.

The goal also plans to see Ford emerge as a leading vendor of electric vehicles (EVs) in China, and a worthy competitor to Tesla Inc., which rules this growing market segment. About a third of the new models Ford plans to launch will be EVs. China is Ford's second biggest motor vehicle market after the United States.

"China is leading the world with smart vehicles, and is a key part of Ford's global vision for the future," said Ford CEO Jim Hackett. "Ford is deeply committed to China, and with our new China leadership team and vision, we're investing in the future.”

Analysts, however, noted that Ford previously said it intended to launch 50 new or significantly redesigned vehicles in China from 2018 to 2025. The marked decline in this aggressive goal indicates Ford's continuous struggle to revive sales in China.

Ford has always said the root cause of its sales malaise in China is a dearth of new products. Auto industry experts also believe Ford’s China trouble are the result of the China-U.S. trade war and its edgy relationship with domestic partners Changan Automobile Group and Jiangling Motors Group.

Anning Chen, Ford’s operating boss in China, said Ford commits itself to improving its relationships with Chinese joint-venture partners. Ford also plans to localize its management teams by hiring and promoting more Chinese nationals and global talent with Chinese expertise.

Ford’s new plans seek to “enable us to gain the momentum to break through” in the marketplace, said Chen.

Ford’s Wednesday's announcement is part of a broader relaunch of the its strategy in China, which includes more focus on new technology and adapting the Ford and Lincoln brands to local needs.