Ford Motor has suspended shipments of its high-end vehicles from the US to China, including F-150 Raptors, Mustang sports cars, Bronco SUVs and Lincoln Navigators, in response to sharply increased Chinese tariffs, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Ford’s broader business in China has contracted significantly in recent years, with total sales — including those through its joint ventures — falling from roughly 1.3 million in 2016 to around 400,000 in 2024.
The move comes amid intensifying trade tensions between Washington and Beijing, with the latest Chinese countermeasures pushing tariffs on certain US-built vehicles as high as 150%, according to the report. The F-150 Raptor, which can sell for nearly $100,000 in China, is among the affected models.
A Ford spokeswoman confirmed to the Journal: “We have adjusted exports from the U.S. to China in light of the current tariffs.”
The Detroit-based carmaker began exporting its flagship models to China roughly a decade ago. Last year, Ford shipped around 5,500 vehicles to the country — well below its annual average of more than 20,000 over the past 10 years.
Separately, Goldman Sachs analyst Mark Delaney cut his price target on Ford shares by 18.2% to $9 last week, citing rising competition, weaker demand, and higher costs related to tariffs.
In a note to clients, Delaney said the bank had been “too positive” on the stock, noting a 32% drop in Wall Street earnings estimates for Ford since it was added to Goldman’s ‘Buy’ list six months ago.
Delaney added that Ford’s US-centric manufacturing footprint — 77% of production is based domestically — helps shield the company from some of the tariff-related pressures, though sentiment around the stock has deteriorated.
Earlier this week, Bernstein also cut Ford‘s price target to $7.00, noting that the firm expects the company’s shares to “remain under pressure.”
Donald Trump later revealed a 90-day pause on tariffs, causing U.S. auto stocks to surge. Ford shares soared after the announcement and closed 9.3% higher.
Based on the previous closing price of $9.50, Goldman Sachs’s new price target implies a downside of 5%. The firm also downgraded Ford’s rating from Buy to Neutral.
Ford’s U.S. sales have dropped 1.3% year over year in the first quarter, with 501,291 units sold overall, as the brand ended production of the Ford Edge and Transit Connect models.
Sales for pickups and electric vehicles rose over the first three months of the year. Ford’s electric vehicle sales — which include both pure EVs and hybrids — increased 25.5%, with more than 73,000 units.
The company reported 22,550 pure electric vehicles sold, a 11.5% increase from the same period a year ago, while the Maverick hybrid pick-up (priced at $23,920) was the best-selling powertrain.
