{"id":12155,"date":"2023-05-15T13:31:09","date_gmt":"2023-05-15T11:31:09","guid":{"rendered":"https:\/\/investmentbell.com\/?p=12155"},"modified":"2023-05-15T13:31:15","modified_gmt":"2023-05-15T11:31:15","slug":"ford-says-it-will-reduce-costs-to-boost-china-business","status":"publish","type":"post","link":"https:\/\/investmentbell.com\/hy\/news\/market-overview-news\/ford-says-it-will-reduce-costs-to-boost-china-business\/","title":{"rendered":"Ford says it will reduce costs to boost China business"},"content":{"rendered":"<p>SHANGHAI\/BEIJING (Reuters) &#8211; Ford said on Monday it was working to reduce costs in China as it strives to recover from a long sales slump in the world&#8217;s largest auto market.<\/p>\n\n\n\n<p>\u201cOur costs are not competitive, and we are working internally and with our partners to reduce costs in all areas,\u201d a representative of Ford China told Reuters in a statement.<\/p>\n\n\n\n<p>\u201cWe can only win through a lean and agile organisation. These actions are necessary for us to build a healthier and more sustainable business in China,&#8221; the company added.<\/p>\n\n\n\n<p>Local Chinese media reported last week, citing unnamed sources, that the company planned to cut 1,300 jobs in China.<\/p>\n\n\n\n<p>The company did not comment on how it would cut costs. Reuters was not able to independently verify the reported job cuts.<\/p>\n\n\n\n<p>Ford&#8217;s sales in China have been sliding since 2016 but its exports from the country nearly doubled in 2022, industry data showed.<\/p>\n\n\n\n<p>Ford will also restructure its China operations to turn one of its joint ventures into an export hub for low-cost commercial electric and combustion vehicles, chief executive Jim Farley said in April.<\/p>\n<div class=\"rate-now\"><span id=\"rate-mypost12155\"><\/span> <span id=\"rate-points\"> 0<\/span><\/div>\n\t\t\t<script type=\"text\/javascript\">jQuery('#rate-mypost12155').raty({\n\t\t\t\thalfShow : true,\n\t\t\t\thalf: true,readOnly: true,score: 0,\n\t\t\t\tpath: \"https:\/\/investmentbell.com\/wp-content\/plugins\/userpro-rating\/images\/\"\n\t\t\t\t});<\/script>","protected":false},"excerpt":{"rendered":"<p>SHANGHAI\/BEIJING (Reuters) &#8211; Ford said on Monday it was working to reduce costs in China as it strives to recover from a long sales slump in the world&#8217;s largest auto market. \u201cOur costs are not competitive, and we are working internally and with our partners to reduce costs in all areas,\u201d a representative of Ford [&hellip;]<\/p>","protected":false},"author":13,"featured_media":12156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[],"class_list":{"0":"post-12155","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-overview-news"},"_links":{"self":[{"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/posts\/12155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/comments?post=12155"}],"version-history":[{"count":0,"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/posts\/12155\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/media\/12156"}],"wp:attachment":[{"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/media?parent=12155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/categories?post=12155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/tags?post=12155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}