On December 7, Ford Motor Co., Ltd. signed two major strategic agreements in succession. It first agreed with Alibaba Group on multi-dimensional and multi-dimensional strategic cooperation intentions, and subsequently signed a deepening strategic partnership with China Southern Industrial Corporation in Beijing. Framework Agreement.
Ford changed its perception of the outside world. After establishing a joint venture with Zotye, it thought that Ford's adjustment in the Chinese market would slow down. But in December, it was led by Ford Motor Company's Executive Chairman Bill Ford. Next, Ford’s newly formed executive team made a collective appearance in China. Ford adjusted its determination and made further progress.
Ford’s global adjustment has started to advance last year. At the beginning of last year, Ford has cooperated with Amazon, IT giants such as IBM, Google, and other companies, and recalled its products in order to improve the technology level. product quality.
On December 5th, Bill Ford expressed his emotion to the current situation of the auto industry at a press conference with the theme of "Ford's China Growth Enhancement Plan". "Everything is being subverted."
In an interview with a reporter from the 21st Century Business Herald, Bill Ford said: "I have never seen such a large-scale change in the automotive industry. Over the past 100 years, the automotive industry has undergone gradual changes, but it has never experienced drastic changes. In the new round of development, China will be a leading nation."
Find the next Alan Mulally
In the eyes of the outside world, as a car company for a hundred years, it may be precisely because of the oppression from the outside world that Ford realized that if it does not change, does not respond, and does not change, it may become strategically passive, miss the development opportunity, or even miss an entire one. era.
In response, Jim Hackett, president and chief executive officer of Ford Motor Company, who met with the Chinese media for the first time, said: “In the future, the entire automotive industry will grow very fast in China. Ford not only faces opportunities, There are many responsibilities. Therefore, we have to think about whether there are innovative ways and become the most reliable mobile travel company in the world."
In May of this year, Han Junte who took over from Mark Fields becomes the key to whether or not Ford can lead a successful transition. Han Junte reminds one of Ford's legendary Alan Mulally. Both CEOs are on the verge of taking orders and are taking positions in the face of Ford's major historical turning point.
Alan Mulally, former president and CEO of Boeing Commercial Aircraft Group, took over as CEO of Ford in 2006. At the time, faced with a loss of 12.7 billion U.S. dollars, Ford, Alan Murali, who was on the brink of collapse, set a new direction: Focusing on the Ford brand, producing products that meet different market demands, promoting brand-name products that are rare and refined, and producing first-class products. Cars are saved by quality, safety, energy saving, and more value to save Ford.
Han Chunte is also a recognized business leader who has successfully led the company in its strategic transformation. Since March last year, he has served as the executive chairman of Ford Motor Company's Ford Smart Mobile Travel Company. In terms of Bill Ford’s words, Han Yute’s job is to make the development of Ford’s electric vehicles and smart connected cars better, and the development of self-driving cars can be even better. At the same time, Luo Guanhong, chairman and chief executive of China’s Board of Directors who just took office in September this year, is also a cross-border executive who previously served as CEO of Key Safety Systems (KSS).
The Ford CEO's "selection" is not limited to the automobile circle, but the key is that the selected person must have outstanding leadership ability, as well as experience in leading the company's business transformation and achieve rapid business growth. It is worth noting that the two strategic agreements in December are signed by the newly appointed two CEOs, and these two will also be the key figures for future Ford Global and Ford's strategic layout in China.
Betting China Market
In fact, one of Ford’s biggest challenges today is the constant decline in profits. According to Ford’s financial report, Ford’s revenue for the first quarter this year was US$36.475 billion, pre-tax profit was US$2.2 billion, a decrease of 42% from the previous year, and its second-quarter revenue was US$39.85 billion, although it was 39.49 billion yuan more than the same period of last year. The US dollar achieved a slight increase, its net profit was 2.04 billion U.S. dollars, its revenue in the third quarter reached 36.5 billion U.S. dollars, and its adjusted pre-tax profit was only 2 billion U.S. dollars, but it rose by 40%.
Ford's overall profit rate is continuing to decline, so securing profits has become a top priority. In view of Han Yute’s successful experience in turning companies into profitable companies, how to invest in multi-fields on the basis of ensuring financial profitability has become a major issue in their strategic decisions.
In accordance with Ford's future global strategic framework, it focuses on three objectives: to strengthen the execution of the company's operations; to enhance the modernization of Ford's existing businesses; and to promote the transformation of the company to meet future challenges.
The Chinese market has become an important part of its strategic layout. According to the "China 2025 Plan" announced by Ford, Ford announced that by the end of 2025, it will launch more than 50 new Ford and Lincoln brand models in China. The SUV will become a key category for further enhancement. There will be eight new SUV models and more electric models will be launched into the Chinese market, of which Ford will launch at least 15 models of electric cars for the Ford and luxury brands Lincoln.
In addition, Ford Motor plans to achieve a goal of 50% revenue growth in 2017 than in 2017, and the growth will be mainly through maintaining a reasonable structural cost in China while improving operational efficiency, streamlining operations, and launching more Smart connected car models.
At the same time, Ford’s sales decline in China is also very problematic. According to public figures, Ford’s cumulative sales in China in the first 10 months of this year were 939,000 units, down 5% year-on-year, of which Chang’an Ford’s cumulative sales fell 14% in the first 10 months.
It is in recognition of these problems that, in addition to strengthening product upgrading, Ford will unify sales channels in China and establish a national sales service organization. From the signing of the agreement with China Southern Industries, Changan Ford will integrate the existing market, sales and after-sales service departments into a nationwide sales service agency in charge of sales and service, and be responsible for including all Ford brand passenger car products in China's market. Sales and after-sales service.
In addition, in order to make up for Changan Ford's sales decline, Ford will start the localization of Lincoln brand vehicle products. According to reports, Lincoln accumulated sales of 46,000 vehicles in the first 10 months of this year, an increase of 85% compared to the same period last year. In November of the past, Lincoln completed sales of its 100,000 cars since entering China and was made through Lincoln. It can also increase the capacity utilization of the Changan Ford plant.
At the same time, Ford also mentioned that by the end of 2019 through the car wireless router or access device, all Ford and Lincoln brand models in China will realize mobile Internet.
In response, Luo Guanhong said: “From the luxury brands Lincoln, to the Ford brand cars and SUVs, and the new pure electric vehicle brands, they are all committed to satisfying the Chinese market's rapidly increasing demand for high-quality new energy vehicles. It will be safe, efficient, full of driving pleasure, and the facilities and services it will support will make it easier to charge, share and maintain the vehicle.â€
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