Chinese automakers are constantly striving to maintain the title of the world’s largest auto market.
A 2018 report titled “China’s Auto Revolution” by ResearchAndMarkets.com says that China is poised to emerge as a major auto exporter, shaking up the global auto market.
Almost every major automaker in the world has a presence in China. The report states that these automakers produce vehicles both for the Chinese domestic market as well as for international markets.
Ford Motor Company, the American auto giant, is now stepping up its game in the huge Chinese car market. The company announced it was reorganizing Asia Pacific operations in order to return to profitable growth. Ford China, as part of these actions, has created a separate business unit that reports to Ford’s global headquarters.
“Success is crucial as we reposition the global business to achieve long-term success.” “With today’s action, we are strengthening commitment to China and reorganizing international markets to improve their performance,” Jim Hackett, Ford President and Chief Executive Officer.
Reorganizing Operational Structure in APAC
Anning Chen has been appointed as the new President and Chief Executive Officer for China Operations by Ford. Chen, a seasoned auto executive who has a proven track record in China will rejoin Ford to drive sustainable value creation. Chen was previously the CEO of Chery Automobile, Ltd., and Chairman of Chery Jaguar Land Rover, Automotive, China.
Peter Fleet, Ford Asia Pacific president, will assist Chen in his transition to his new role as Ford’s leader in China. Fleet will oversee the creation of a new International Markets Business Unit, initially consisting of Ford’s Asia Pacific businesses that are not in China. This will include other global markets which will be announced at a later date.
Building New Focus in China
Ford is making these moves to return to profitable growth, which is a core pillar of its global strategy. China is the largest automobile market in the world and Ford wants to be able to grow there again. Ford China will be able to focus more on the Chinese market, make faster decisions, and increase Chinese leadership in the company.
Jim Farley, Ford’s global market president, says that China is essential for Ford’s growth and profitability.
As the world’s largest market for vehicles, China deserves its leadership. We are more agile as a company, can make faster decisions, and are closer with our customers because we have a Chinese business leader who is experienced and talented.