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Ford Motor CEO Jim Farley during an unveiling of a special edition Ford Mustang GTD for the Detroit Auto Show on January 9, 2024.
Michael Wayland/CNBC
DETROIT – Ford MotorThe China operation earned about $600 million last year despite difficult market conditions, CEO Jim Farley said Thursday night.
“I’m happy to say that Ford makes money in China, and I’m very proud of that, because not much [automakers] can say that,” Farley said after a vehicle reveal for the Detroit Auto Show.
Farley said these gains include the export of vehicles such as the Lincoln Nautilus, which is only produced in China for other markets such as the United States.
China has been an increasingly challenging market for automakers, especially legacy Western companies like Ford and General Motors.
Ford did not report earnings by region, but Farley earlier announced the evolution of the company’s “asset-light” strategy in China.
