Ford says Chinese auto brands could put their American rivals out of business

Ford CEO Jim Farley is clear-eyed about the threat posed by the Chinese auto industry, warning it could drive the Blue Oval brand and its fellow American automakers out of business.

When asked on CBS Sunday Morning whether he saw similarities between the 1980s – when the US auto industry was under increasing pressure from Japanese brands – and now, Mr Farley said: "Oh I think it's exactly the same thing, but it's on steroids.

"They have enough capacity in China with the existing factories to serve the entire North America market, put us all out of business. Japan never had that. So, this is a completely different level of risk for our industry."

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Insulating American automakers, at least in their