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USA Today
11 hours ago
- Automotive
- USA Today
Ford's leadership team studies China's auto industry for competitive edge
In late May, Ford Motor Co.'s executive leadership team went to China with an agenda: To study every aspect of how Chinese auto companies operate, then apply those learnings across Ford in its other markets. The Dearborn, Michigan-based automaker has been studying China's car companies for years now; that's not new. But in recent years, Ford's leaders have intensified their examination of its Chinese rivals, viewing Chinese automakers as the top competition to learn from — and beat. Ford CEO Jim Farley started taking his leadership team to Shanghai and other big markets in China a couple times a year starting about two years ago. The sojourns last about a week, said Mark Truby, Ford's chief communications officer who has been on a couple of the trips. Truby said the team drives China-made vehicles, talks to the experts in China, studies the technology and the customer service all with the purpose of learning "with a humble approach" and to ensure Ford has the right partnerships and strategy to succeed. Auto sales in 2025: Ford sales surge 16.3% in May amid employee pricing and tariff concerns "It's not just a copy and paste because the markets are so different," Andrew Frick, Ford's president of Ford Blue and Model-e divisions, told investors on June 11. "China is different from the U.S., different from Europe, et cetera. What we're trying to do is really replicate the intellectual approach, the speed that they do business on, and learn from our (joint venture) partners and then transfer that knowledge to the company." Ford's ultimate goal is to lead in every global market Ford is in, knowing that one day the Chinese will bring their cars to the United States. When they do, Ford has to be competitive if the 121-year-old automaker is to survive another century. Consider what Ford Vice Chair John Lawler recently told Wall Street analysts about the Chinese automakers. "They're going to continue to be a force to be reckoned with, given their speed, their cost structure, their nimbleness and their ability to iterate very quickly," Lawler said at the Bernstein 41st Annual Strategic Decisions Conference in New York on May 28. "When they've established themselves, they'll be looking to come to the U.S. So is that five years? Ten years down the road? I don't know. But eventually, they'll come, just like the Japanese did and the Koreans did." When China's automakers do enter this market, Lawler said, consumers will gravitate to the lowest cost, highest quality products, not caring if those products are made by a foreign rival. "That's eventually going to happen," Lawler said. China's growth to world dominance Dan Ives, managing director of Wedbush Securities, applauds Ford's strategy to study China car companies. "This is a smart move as the innovation and supply chain from BYD and other China automakers is stunning," Ives told the Detroit Free Press, part of the USA TODAY Network. "(CEO) Jim Farley and team using this as rebirth of Ford to expand globally is a smart pivot." But Morningstar's autos analyst David Whiston warns that "everyone is a formidable competitor these days." "The Chinese have come on strong and I suspect executives feel it's a matter of time before they are selling in the U.S.," Whiston said. "The Koreans are no longer the cheap bargain substitute brand they were 15-20 years ago. Then there's EV startups like Rivian and Lucid floating out there and continued premium competition from the German three and Porsche." But China is now the largest new vehicle sales market in the world. A total of 31.4 million vehicles, including buses and trucks, were sold last year there, a 4.5% jump compared with a year earlier, the China Association of Automobile Manufacturers reported. Growth in sales outpaced production, which rose 3.7%. By comparison, about 16 million new vehicles were sold in the United States last year, up 2.7% from the previous year. China has expanded in other markets, too. Exports of Chinese-made passenger cars soared nearly 20% in 2024, to about 5 million vehicles, according to an Associated Press report. Exports of what China calls 'new energy vehicles," which are battery electric vehicles, fuel-cell cars and plug-in hybrids, reached 1.28 million in 2024, a 6.7% increase from 2023. Trump tariff turmoil: How Ford is navigating rare earth mineral supply chain disruptions, tariffs and more The U.S. government has a 100% tariff on China-made electric cars and the European Union also hit China-based EV makers with high tariffs, saying the Chinese automakers have benefited from unfair government subsidies. The tariffs have kept all Chinese-made cars from being sold in the States so far. But to say American automakers are not alarmed by the rapid expansion of the Chinese automakers around the world, would be an understatement. "I would say it is pretty serious," Mike Wall, executive director of Automotive Analysis at S&P Global Mobility, said of the Chinese threat to U.S. car companies. "While the Chinese are not directly competing in the U.S. yet, I think there is an expectation that they eventually will be and for a global automaker like Ford (and others), the threat the Chinese present in other markets is already there." Ford's use of China as an export hub Ford and General Motors have both faced an increasingly tough market in China in recent years as Chinese automakers, including the giant BYD, and EV-leader Tesla, have dominated domestic sales there. Both automakers have worked to reverse slumping sales in China. GM shut down facilities last year as it spent $5 billion to restructure there. Ford shifted focus to use the country as an export hub. Last year, Ford made $900 million in earnings before interest and taxes in China for the year and much of that was based on exports, Frick said. "Take a vehicle like Territory with our JV partner. We are now exporting Territory all around the world," Frick said of the compact SUV Ford makes with Jiangling Motors Corp. "It's doing quite well in Mexico. Actually, in Mexico, Territory is now our best-selling vehicle. We sell more Territorys than we do F-150s in Mexico, where there's a big Chinese influence." China automakers comprise about a third of all new vehicle sales in Mexico, he said. Frick, who made the comments at Deutsche Bank Global Auto Industry Conference 2025, said Ford's business in China is "very profitable business" and "it's capital light" because of Ford's joint ventures. Ford has partnerships with Changan Automobile, Jiangling Motors Corp. Group and Changan Ford New Energy. "It's a really good, investable business there," Frick said. The only vehicle Ford assembles in China and sells in the United States is the Lincoln Nautilus. It sold 36,544 Nautilus SUVs in the United States last year, a 50% increase from the prior year. Ford is still exporting the Nautilus to the States despite a new 25% U.S. tariff on all imported vehicles, Truby said. Ford's learnings out of China so far Frick noted that Ford has an edge on Chinese automakers with its Ford Pro business, its commercial vehicle division. Frick called it a "long-term advantage" for Ford because the Chinese are not investing in commercial vehicles and the subscription services to the extent Ford has. In April, Ford reported its Ford Pro Intelligence software platform has nearly 674,000 active subscriptions, based on end of first quarter estimates, up 20% year-over-year. As to Ford's executive team's learnings out of its most recent visit to China, Frick provided a high-level outline to investors. "Speed, the way they're integrating AI into their vehicles and into their customer experience and their digital experience is really impressive," Frick said. "How we leverage the learnings out of there, not only from the actual customer experience that they're going through, but the development plans, the processes, we're taking a lot of that knowledge and trying to transfer it." He said Ford is also learning a lot from Chinese automakers' new energy vehicles, which he believes could help Ford best determine its future electrification strategy such as where the natural consumer demands for electric vehicles and other electrification technology will land. "That will likely inform, plus or minus government subsidies and incentives, that will inform where natural customer demand may be in other parts of the world," Frick said. "So there's a lot to learn in China.' Jamie L. LaReau is the senior autos writer who covers Ford Motor Co. for the Detroit Free Press. Contact Jamie at jlareau@ Follow her on Twitter @jlareauan. To sign up for our autos newsletter. Become a subscriber.
Yahoo
06-06-2025
- Business
- Yahoo
Amex leans into B2B payments
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. American Express is nudging corporate clients to use their cards more regularly for business payments, CEO Steve Squeri said in a presentation last week. The push comes as Amex prepares for economic uncertainty. The card giant is looking for ways to increase business-to-business spending by clients who hold corporate or small business cards used for work-related purchases, he said. The New York City-based card company already offers an array of corporate cards that business owners and managers can use for work expenses, but aims to make those cards usable for a wider range of business-related purchases, Squeri said, although he provided few details. The CEO made the comments on May 29 at the Bernstein 41st Annual Strategic Decisions Conference in New York City. "We can do a better job of making more B2B payments viable," he said. "That means on both the card member side and the merchant side." Looking at costs for customers could be one way to achieve that goal, Squeri said. "There is a point where the right pricing decisions drive some more volume there," he said, although he did not elaborate. The acquisition of expense management platform Center was part of the company's push to expand B2B payment volume, Squeri said. 'It [Center] will ultimately become part of the Blueprint platform,' about which he said, 'It's got access to your card account, it's got a cash flow analysis, it's got working capital. We'll integrate travel into that,' he said. 'And so, think about that as a platform going forward for small and midsize businesses.' American Express is also "building out a global, multi-rail B2B network to act as a digital, one-stop shop where any business can buy and sell easily, quickly, and in one place, no matter what kind of payment is required," an Amex spokesperson said in an email. The spokesperson also stressed that the company's foothold in B2B payments goes beyond corporate and business credit cards, and includes partnerships with B2B payment companies such as Boost and Versapay. The card network has taken steps to upgrade its offerings for businesses recently. Last month, for example, American Express gave small business owners access to a virtual credit card that was previously available only to corporate clients. While Squeri did not explicitly link the company's pursuit of B2B payment volume with a possible recession, Amex is turning to business customers as consumer sentiment wavers in the face of economic uncertainty. The card network's cardholders change their spending habits when faced with economic uncertainty, Squeri said."When our cardholders get stressed, they spend a little bit less," Squeri said. Even after President Donald Trump walked back his most aggressive tariffs, economists pointed to a higher-than-average chance of a recession this year. JPMorgan Chase put the odds of the economy slipping into a recession this year at 40% in a report published on May 27, but even if that scenario were avoided, the bank's economists said the U.S. could still see tepid economic growth in the months to come. The bank's prediction was made before the president doubled tariffs on steel and aluminum Wednesday, which could worsen the economic picture by increasing prices in the U.S. Joblessness is something Amex is monitoring closely, more so than the volatile stock market, the company's CEO said. "The thing we really watch for is the unemployment rate," Squeri said. Recommended Reading Amex offers virtual card to small businesses
USA Today
05-06-2025
- Automotive
- USA Today
Ford executive says automaker has competitive edge against tariffs, will adjust operations
Ford executive says automaker has competitive edge against tariffs, will adjust operations Show Caption Hide Caption Ford Motor Company: Understanding the automaker's history, legacy Explore the rich history of Ford Motor Company, from its groundbreaking assembly line innovations to iconic cars like the Model T, Mustang, and F-150. Ford seeks to leverage its U.S. manufacturing base and explore opportunities presented by the changing trade environment. While committed to EVs, Ford has reduced investment in EV development due to decreased demand. Ford Motor Co. will adjust its operations and footprint over the next 12 to 24 months to find ways to mitigate the costs from President Donald Trump's tariffs on imported vehicles and auto parts. It is also focused on continued development of electric vehicles, even as demand for EVs softens and emissions policies could shift. Those are two of the highlights from a broad-reaching interview May 28 between Ford Vice Chairman John Lawler and autos analyst Daniel Roeska at the Bernstein 41st Annual Strategic Decisions Conference. Roeska quizzed Lawler about Ford's plans to address tariffs if the duties continue and about the automaker's commitment to EVs. In April, Trump imposed 25% tariffs — taxes an importer pays when goods cross international borders — on vehicles imported into the United States and imported parts that are not compliant with the United States Mexico Canada Trade Agreement. In its first-quarter earnings report on May 5, Ford said tariffs dented its adjusted earnings before interest and taxes (EBIT) by $200 million in the quarter. The company suspended its financial guidance for 2025 due to tariff uncertainty. But it said it expected tariffs to inflict a $1.5 billion hit to the automaker's adjusted EBIT for the full year. In case you missed it: Ford to hike prices on these models, including the 'most affordable pickup in America.' Are tariffs to blame? Ford's latest take on tariffs Lawler said Ford has a competitive advantage against tariffs at the moment because about 80% of the vehicles Ford sells in the states are also made here. Still, Lawler said the company has not moved from its anticipated net hit to earnings of $1.5 billion from tariffs. He added, however, "we're continuing to work on that and understand that." "We're continuing to leverage our competitive advantage in our footprint to try to identify opportunities for us over the next 12 to 24 months where we can take advantage of the shifting environment," Lawler said. Lawler did not provide specifics on what Ford is doing to leverage its competitive advantage, but when asked whether he believed Ford could take action that would reduce the impact tariffs will have on the company's costs, Lawler said yes. "Part of that is when you look at the parts, pushing more of those parts to be USMCA-compliant, that's a tack that we can take," Lawler said. "We can onshore parts that aren't onshored today, although a large percentage of our parts are. So those are different tactics that we can take working with the supply base to minimize some of that impact." Lawler said Ford is going to continue to work on "all of the levers" it can tweak to reduce its exposure to tariffs. "Then we'll also have to look at the go-to-market end of it as well and are there going to be additional opportunities there beyond what we've identified so far," Lawler said. "And a lot of that also is going to be the reactions of counter-tariffs and other things that happened there, and what does that mean for us and then how will we adjust to that? So it's a dynamic environment." Lawler said Ford is looking at areas "on the top line as well as on the cost side" and in its footprint now to offset the impact of tariffs. Ford's EV agenda In the interview May 28, Roeska asked about the other change expected from the new Trump administration: A deemphasis on the transition to EVs and a possible phaseout of the incentives President Joe Biden put in place, incentives that have helped spur EV adoption. There has also been talk of rolling back the Environmental Protection Agency targets making it less urgent for automakers to offer zero-emissions vehicles to meet compliancy goals. Lawler said Ford's long-term views on EVs has not changed despite any of those possibilities. He said the demand for EVs has softened in the past 12 to 18 months and Ford, along with the rest of the industry, has adjusted to that by reducing the cash it invests in EV development. "But we're not pulling back completely on investing. So they're going to come and we're really excited about the Advanced EV team in California and what they're developing for us, for our next generation of EVs," Lawler said. "We think those are going to be a game changer." Ford's all-electric vehicle lineup currently includes the Mustang Mach-E, F-150 Lightning and the E-Transit van. Lawler said Ford is "leaning into" its hybrid technologies, which offers consumers a transition to full electrification. Ford remains committed to creating more affordable EVs as well, he said, believing affordability will increase adoption. "We believe that where we're shifting our focus on EVs to small, more affordable, mainstream products versus what others and what the industry has leaned into so far when it comes to EVs, we think those are all opportunities for us in that the EV horizon, although it's flattened out, it's still going to, it's going to shift. It's going to happen," Lawler said. "It's just going to take longer." Jamie L. LaReau is the senior autos writer who covers Ford Motor Co. for the Detroit Free Press. Contact Jamie at jlareau@ Follow her on Twitter @jlareauan. To sign up for our autos newsletter. Become a subscriber.
Yahoo
28-05-2025
- Business
- Yahoo
Prologis to Participate in Industry Conferences in New York City
SAN FRANCISCO, May 28, 2025 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) today announced that Dan Letter, president, is scheduled to participate in the Bernstein 41st Annual Strategic Decisions Conference in New York, NY on May 29. Additionally, Dan Letter and Tim Arndt, chief financial officer, will participate and present at REITweek 2025: NAREIT's Investor Forum in New York, NY. The presentation will occur on Wednesday, June 4, at 10:15 a.m. ET/7:15 a.m. PT. Prologis' presentation will broadcast live via audio webcast and an audio replay will be available thereafter. The live broadcast, replay, and presentation materials can be accessed on ABOUT PROLOGIS The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at FORWARD-LOOKING STATEMENTS The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to global pandemics; and (xi) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law. View original content to download multimedia: SOURCE Prologis, Inc.
Yahoo
23-05-2025
- Business
- Yahoo
Restaurant Brands International Inc. to Participate in the Bernstein 41st Annual Strategic Decisions Conference
MIAMI, May 23, 2025 /PRNewswire/ - Restaurant Brands International Inc. (NYSE: QSR) (TSX: QSR) (TSX: QSP) ("RBI") announced today that Josh Kobza, Chief Executive Officer, and Sami Siddiqui, Chief Financial Officer, will participate in a fireside chat at the Bernstein 41st Annual Strategic Decisions Conference on May 29, 2025 at 8:00am Eastern Time. A live audio webcast will be available on the company's investor relations website ( and will be available for 30 days following the event. About Restaurant Brands International Inc. Restaurant Brands International Inc. is one of the world's largest quick service restaurant companies with nearly $45 billion in annual system-wide sales and over 32,000 restaurants in more than 120 countries and territories. RBI owns four of the world's most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®. These independently operated brands have been serving their respective guests, franchisees and communities for decades. Through its Restaurant Brands for Good framework, RBI is improving sustainable outcomes related to its food, the planet, and people and communities. RBI's principal executive offices are in Miami, Florida. In North America, RBI's brands are headquartered in their home markets where they were founded decades ago: Canada for Tim Hortons and the U.S. for Burger King, Popeyes and Firehouse Subs. To learn more about RBI, please visit the company's website at View original content to download multimedia: SOURCE Restaurant Brands International Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
