Ford CEO reports $2 billion loss in profits in 2022, falling short of expectations

Ford 4th quarter profit drops 90%, company says more cost cuts coming

The performance comes with a backdrop of rising interest rates and declining vehicle sales overall.

Ford 4Q profit drops 90%, company says more cost cuts coming

Ford Motor Co. reported Thursday that its fourth-quarter net income fell 90% from a year earlier, leading company officials to say the automaker's costs are too high and to pledge more belt-tightening this year.CEO Jim Farley said Ford should have done better last year, and it left $2 billion in profits on the table that were within its control. He said Ford will correct that with improved urgency and execution this year.“These are the simple fa…

Ford 4Q profit drops 90%, company says more cost cuts coming

Ford says its fourth-quarter net income fell 90% from a year earlier. That led company officials to say Thursday that the automaker's costs are too high and to pledge more

Ford CEO reports $2 billion loss in profits in 2022, falling short of expectations

Ford Motor Co. announced Thursday that the company fell short of its expectations in the fourth quarter and last year, reporting that it lost $2 billion in profits. In a press release published Thursday, Ford CEO Jim Farley said that the company should have done “much better” in 2022. The press release said that in…

Ford CEO: 'I'm frustrated' with 2022 earnings that fell short by some $2B

Ford failed to realize its potential in 2022 and big changes will be made in 2023, Ford CEO Jim Farley said.

Ford 4Q profit drops 90%, company says more cost cuts coming

Ford Motor Co. reported Thursday that its fourth-quarter net income fell 90% from a year earlier, leading company officials to say the automaker's costs are too high and to pledge more belt-tightening this year.CEO Jim Farley said Ford should have done better last year, and it left $2 billion in profits on the table that were within its control. He said Ford will correct that with improved execution this year.The global shortage of computer chip…