Legacy U.S. automakers such as Ford Motor and General Motors should leave the China market to preserve capital amid the costly electric vehicle (EV...
FILE PHOTO: Employees work on Baojun RS-5 cars at a final assembly plant operated by General Motors Co and its local joint-venture partners in LiuzhouDETROIT - Legacy U.S. automakers such as Ford Motor and General Motors should leave the China market to preserve capital amid the costly electric vehicle transition, a leading auto analyst said on Tuesday.
“Very aggressively manage your core business. And it’s really some tough medicine. There's a lot of really hard work to do here,” Murphy said at the event, which was put on by the Automotive Press Association in a Detroit suburb. Ford and GM’s sales in China have slipped over the last decade. The region used to be GM’s largest market, and the automaker is now fighting to post profits there. Ford, noting fierce competition from rivals such as BYD and Geely, is transforming its China business to become an export hub.Wayne Gretzky golfs barefoot with daughter Paulina Gretzky — and Travis Kelce — for Father's Day: 'Gretzky with the no shoes policy'PENSACOLA, Fla.
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