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Ford to build more Lincolns for Chinese market locally: CFO
Source: Reuters
BUSINESS NEWS MAY 15, 2019 / 10:24 AM / UPDATED 33 MINUTES AGO
Ford to build more Lincolns for Chinese market locally: CFO
Nick Carey
2 MIN READ
(Reuters) - 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 on 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.
-snip-
Ford to build more Lincolns for Chinese market locally: CFO
Nick Carey
2 MIN READ
(Reuters) - 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 on 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.
-snip-
Read more: https://www.reuters.com/article/us-ford-motor-china-lincoln/ford-to-build-more-lincolns-for-chinese-market-locally-cfo-idUSKCN1SL1UT
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