Ford CEO Jim Farley said that the US must carefully weigh how and whether Chinese automakers should enter the American market, and pointed to Europe as a cautionary tale.
Farley said at an Automotive News conference on Tuesday that the US must “be extremely careful around how the Chinese OEMs come to our country,” and cited the pressure on Europe’s auto industry as Chinese imports quickly grab market share there.
For European countries, “it’s too late,” he said.
Farley said Ford will partner with Chinese companies when the situation is capital-efficient and in areas where the automaker lacks expertise. Ford, for example, partners with Chinese battery maker CATL to make lower-cost batteries at a Michigan plant.
Ford also ended production of their entire line of cars with the exception of the Mustang in 2022 and only makes trucks and SUVs now. They say its because those don’t generate enough profit.
If Ford won’t serve the market segment, they shouldn’t have any say if another company can do so or not. The reason Ford is fighting is because this is the exact pattern that Japanese car makers used in the early 70s during the … wait for it… oil crisis. Nissan (Datsun), Honda, and Toyota all started with small economy cars and all are recognizable brands demanding large market shares of the American auto market. The irony is that these Japanese auto companies probably employ more Americans making cars than the “American” auto makers which have shifted production to other nations like Mexico, Canada, and China.
If Ford won’t produce what Americans want to buy, I’m okay with letting Chinese companies take a shot at it here in the USA.
They say its because those don’t generate enough profit.
…because they put a shitty Getrag transmission in them with a 100% failure rate.
Idiots will pay >$75000 for a pickup truck, with the finest technology of 1971.
Don’t forget that this is the same company that developed a rust protection method and then refused to use it on its own vehicles because the capital outlay wouldn’t make shareholders happy.
… And then developed a reputation for rusting that nearly killed the company.
If you are so scared of competition, than fucking be competitive.
To be fair: he can’t. China got it’s shit together around EV batteries and the entire supply chain.
Biden funded “battery valley” in the US with $3B but as soon as Trump got elected, it ended. So while one country has a national strategy and competent government, the other funds and retracts in fits and starts. Ford EVs were massively overpriced, so no one bought them, then they could say no one buys EVs. Detroit has been trying to kill EVs since the EV-1 in 1996-99, when they were horrified to learn nothing wears out and EV practical lives could vastly exceed ICE without billions in parts sales.
Strange how companies always say no to regulations and demand a free market until a better company starts taking all their customers, then they demand governments to do something against the competitors
They can’t/won’t. China subsidizes their manufacturing. The US bails out car manufacturers and Ford lays off workers and the CEO makes a record paycheck.
US subsidizes Ford’s
manufacturingstock buyback program as wellChina subsidizes their manufacturing.
BYD was founded on Warren Buffet $$.
Detroit has received $85B in Federal loans, bailouts and subsidies since 2008, while Chinese subsidies are rumored at $8B.
BYD CEO makes between $800K-$1.1M a year.
Jim Farley made $27.5M last year. “There’s yer problem right there, lady”
How can you do that when you fired engineers and replaced with AI?
“Why is the front wheel on the hood?”
If American car makers want us to buy American cars…. Maybe they should stop making shitty cars.
They would need a new, less-profitable business model. In seriousness, it is almost too late. If Chinese and American governments stopped all trade barriers and subsidies, I bet American car companies get blown out of the water.
They had the advantage for a time and squandered it - now would be playing catch up
I bet it wouldn’t be quite as competitive if china also stopped the subsidies. Maybe it with American cars, those are dogshit, but euro and other Asian cars.
Neither America nor China are particularly saintly when it comes to fair trade practices.
Competition from Japanese car manufacturers was the best thing that ever happened to American car buyers. Even if you’ve never owned a foreign car, the domestic car you drove was better because of it.
How, American cars are still as shit as they ever were.
What’s too late are these outdated car companies failing to invest sufficient resources into electric car R&D.
They’ve tried absolutely nothing and they’re all out of ideas!
It is too late.
Your leadership failed to show innovation that would adequately meet the challenge of Chinese imports.
You should have been fired years ago.
Fuck off, Ford. Your company did this to itself. You could change course at literally any time.
Bye Ford! Maybe next time you could try investing in innovation instead of relying on government protection.
Next bailout coming in 3, 2, 1, …
They invested in management salaries.
the rules to this “Capitalist” Free Market are very confusing. If I didn’t know better, I would think they just set whatever ideological standard best benefits them in the moment.
China uses capitalism, it’s a critical hit.
US uses capitalism, it’s still confused and hurt itself.
Free market absolutists, amirite?
same party that’s cutting back regulation on everything else
We got diarrhea lettuce now, mad cow hamburger and lord knows what else thanks to the cutbacks.
But the real regulation we need is on those Chinese automobiles
smh. we’re not even really capitalists we’re just a shithole country ran by traitors and lunatics voted in by dumpster people
