Ford Posts $2 Billion Loss, Looks To Cut Costs In ‘Pivotal’ 2023 | Carscoops carscoops
last year, but that wasn’t enough to prevent the automaker from posting a $2 billion loss for 2022, the company’s figures reveal.
“We should have done much better last year,” said Ford CEO, Jim Farley. “We left about $2 billion in profits on the table that were within our control, and we’re going to correct that with improved execution and performance.”a full-year adjusted profit of $11.5 billion, but a painful fourth quarter resulted in that falling to $10.4 billion when all the math was completed.
Farley put a brave face on the financial results, claiming that the next 12 months would be more positive. “I’m excited about 2023, which is pivotal for us,” said the CEO. “We’ve got clarity and ambition with the Ford+ plan, a strong team carrying it out, and a lineup of great products and customer experiences that’s getting even better.”
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