Part 7/9:
As Ford and other automakers strive to catch up, the competition is not limited to the U.S. domestic market. These companies are aware they need to sell cars globally, as the American market alone is not enough to sustain them. With the rapid growth of Chinese car exports and their own declining sales in established markets, Ford faces an uphill battle to remain relevant.
For instance, Chinese automaker BYD has dramatically increased its sales, from 400,000 units five years ago to over 4 million in the past year. This exponential growth illustrates how the dynamics of the automotive industry are shifting, compelling legacy companies to adapt quickly or risk losing their foothold entirely.