ANOTHER TOUGH YEAR FOR FORD IN CHINA.
Sales falling for the third straight year - down 26% in 2019 to roughly 568,000 vehicles. That's less than half of what it sold in 2016. And Ford sees the external pressure on its sales continuing this year.
The U.S. automaker has been hit by the same factorS that also slammed GM's sales there. China's auto market, the world's second largest, has shrunk for two straight years, and the China Association of Automobile Manufacturers predicts it'll contract a further 2% in 2020.
Ford plans to rev up sales by launching more than 30 new models in China over the next three years. Electric vehicles will make up a third of that.
Ford shares fell at the market open Monday.