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Ford earnings report shows $2 billion loss for 2022

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."

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Jalen Fong

Jalen joined KYMA in 2022 and is a morning anchor/producer. Send your story ideas to him at: jalen.fong@kecytv.com

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