Ford: More Lincolns to Be Built for Chinese Market Locally

Voice of America
16 May 2019, 04:07 GMT+10

Ford Motor Co plans to start production of new luxury Lincoln models in China for that market as they are launched, starting with the new Corsair later this year, to benefit from lower costs and avoid the risk of tariffs, a top executive said Monday.

'It's a huge, huge opportunity for Lincoln because we see China as ground zero for Lincoln given the size of the market and how well the brand has been received,' Chief Financial Officer Bob Shanks said at a Goldman Sachs conference in New York.

Ford has lower levels of localized production than rivals General Motors Co or Volkswagen AG, who make more vehicles in China for Chinese consumers, benefiting from lower labor and material costs, and avoiding tariffs in the burgeoning trade war between the United States and China.

Shanks said all new Lincoln models, with the exception of the Navigator assembled in Louisville, Kentucky, will also be produced in China.

He declined to say how much Ford will save through localized production.

Ford has been struggling to revive sales in China, the automaker's second-biggest market. Ford sales slumped 37 percent in 2018, after a 6 percent decline in 2017.

Shanks said that all of the problems the automaker experienced in China last year were related to the Ford brand, not Lincoln, which is popular with Chinese customers.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Taiwan Sun.

More Information

32 ℃

Mostly Cloudy in Taipei/Songshan

Business

Section

Despite job gains too many Americans still out of work, says official

WASHINGTON, DC - Total nonfarm payroll employment in the United States rose by 1.8 million in July, and the unemployment ...

Kroenke Sports Entertainment partners with global sportsbook operator

PointsBet, a global sportsbook operator, and Kroenke Sports Entertainment, LLC announced Friday an entrance into a new, multi-year partnership. The ...