Ford Motor CEO Jim Farley unveils a special edition Ford Mustang GTD for the Detroit Auto Show on January 9, 2024.
Michael Wayland/CNBC
DETROIT — ford motorThe company's China operations earned nearly $600 million last year despite difficult market conditions, CEO Jim Farley said Thursday night.
“I'm happy to say that Ford is making money in China, and I'm very proud of that, because not a lot of (automakers) can say that,” Farley said after unveiling the car at the Detroit Auto Show.
Those profits included exporting cars like the Lincoln Nautilus, which are produced exclusively in China, to other markets like the United States, Farley said.
China represents an increasingly difficult market for automakers, especially older Western companies such as Ford and General Motors.
Ford does not report earnings by region, but Farley has previously touted the company's evolving “asset-light” strategy in China.
