Ford earnings report shows $2 billion loss for 2022
(CNN/KYMA, KECY) - Ford Motor Company says sales went up last year, but profits went way down.
The automaker lost $2 billion dollars in 2022.
In its latest earnings report, Ford reports that revenue went up 17% last year.
That was more than what was forecasted.
But, the company lost money in its decision to pull the plug on a self-driving artificial intelligence venture.
The company's investment in electric truck maker, Rivian, also lost value.
In a statement, CEO Jim Farley said, "We left about two billion in profits on the table that were within our control."
