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Ford Motor Company CEO Jim Farley at the unveiling of a special edition Ford Mustang GTD at the Detroit Auto Show on January 9, 2024.
Michael Wayland/ CNBC
DETROIT – Ford MotorIts China operations earned about $600 million last year despite challenging market conditions, CEO Jim Farley said Thursday night.
“I’m happy to say that Ford is making money in China, and I’m very proud because not many (automakers) can say that,” Farley said after a vehicle unveiling at the Detroit Auto Show.
Farley said those gains include the export of vehicles such as the Lincoln Nautilus, which is produced only in China, to other markets such as the US.
China has become increasingly challenging for automakers, especially Western companies like Ford and General Motors.
Ford doesn’t report earnings by region, but Farley said the company’s “light asset” strategy in China is evolving.
