Ford Lost $2 Billion in 2022 as Some Investments Soured
The firm bought 1.15 million autos within the fourth quarter, a rise from 1.1 million a 12 months earlier however about 500,000 fewer than Ford had anticipated, Mr. Lawler mentioned.
Ford’s manufacturing has been slowed by the worldwide scarcity of pc chips, and Mr. Lawler mentioned the corporate anticipated some disruptions to proceed this 12 months and a slight improve in manufacturing quantity.
“In 2023, there is still going to be volatility on chips,” he mentioned. “On the older chips used in the auto industry, there is still capacity constraint.”
Ford mentioned it anticipated this 12 months’s adjusted earnings earlier than curiosity and taxes to vary between $9 billion and $11 billion.
Shares of Ford inventory have been down about 7 p.c in prolonged buying and selling on Thursday.
Earlier within the day, Ford mentioned that its gross sales of automobiles and vans within the United States elevated 2 p.c in January and that its gross sales of electrical autos greater than doubled within the month.
The automaker bought 145,070 automobiles and light-weight vans final month, up from 142,445 in January 2022, when a scarcity of pc chips slowed manufacturing and left sellers with few autos to promote. At the top of January, Ford had 370,000 autos on seller heaps, up from 201,000 a 12 months earlier, a powerful sign that provide chain issues have been easing.
Models accountable for the rise included pickup vans, the Bronco sport utility car and battery-powered fashions. Ford bought 2,264 electrical F-150 Lightning pickup vans, up from simply 63 in January 2022, when the car had simply turn out to be out there. It additionally bought 2,626 Mustang Mach-E electrical S.U.V.s, up 11 p.c.