Ford reported "solid" operating results in 2021 despite the ongoing supply chain crisis, citing demand for its new pure-EVs as pivotal in its bounce-back from a loss the year before.
The company's $17.9 billion (£13.2bn) profits on $136.3bn (£100.3bn) of revenue compares with a $1.3bn (£0.96bn) loss on $127.1bn (£93.6bn) in 2020, when its operations were throttled by the pandemic. It finished 2021 with the best financial results since 2016.
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These financial results undoubtedly support Ford’s strategy in the US to abandon “car” manufacturing - with the exception of the niche Mustang - to concentrate on truck and SUV production. The introduction of the very traditional (retro) Bronco and Maveruck ranges has been a huge success and the F150 Lightning is going to give the Tesla Cyber truck a real run for its money. With Ford’s renaissance in the US you have to question their commitment to car production in Europe. By adopting VW’s MEB platform for their next volume model will they become another VW brand? Whilst I guess the Fiesta has never been a huge profit earner it is surprisingly (and alarming for Ford) how it’s sales have slumped and the Focus seems destined to follow the Mondeo into oblivion. I wonder whether 2022 will be the year when Vauxhall, Ford’s old adversary in the UK, will overtake them in the sales race. Great though to see Ford continuing dominance in the white van market despite the onslaught from Stellantis.
There is no mention of the firm's European performance here. I assume that car sales in the region are still under threat and dragging down overall performance. Maybe it should stick to vans!
When you see how many ford truck articles are appearing in auto car you do wonder. That and still only one BEV in europe and no plans for another one in the near future, oh and diving sales of the fiesta etc
Balance the diving fiests sales against the best selling transit custom van as well as the stella sales of the ranger and other Ford vans, and the picture doesn't look so bleak for the company.