Ford Motor Co is planning to slash more than 1,300 jobs in China as sales decline.<br /><br />Ford's wholesales in China, the world's biggest car market dropped below half a million units for the first in a decade in 2022, reported Bloomberg.<br />The automaker's sales have continuously slipped since 2016, the year in which it shipped 1.27 million vehicles with 4.6% market share.<br /><br />The market share plunged to 2.1% in 2022 as Chinese consumers largely preferred electric vehicles.<br /><br />"Our costs are not competitive, and we are working internally and with our partners to reduce costs in all areas," the report quoted a Ford spokeswoman.
