Net loss attributable to Ford was almost 1.3 billion U.S. dollars in 2020, continuing a downward trend. Amid the outbreak of the coronavirus pandemic in the company's largest markets, Ford's revenue contracted by 22 percent and fell to 127 billion U.S. dollars in 2020.
Market acceptance woes
The year-on-year decline was mainly driven by underwhelming automotive earnings as well as expenses of more than 1.3 billion U.S. dollars contributed by Ford's mobility segment. These factors seem indicative of low market acceptance: Vehicle wholesales fell from 6.6 million to around 4.2 million units between 2017 and 2020. Ford had a particularly difficult year in South America, where the company sold about 185,000 vehicles, a contraction of almost 40 percent.
Costs outweigh earnings in times of crisis
Net income attributable to the Ford Motor Company has been very volatile over the course of the past decade. The Detroit car manufacturer produced net losses of almost 15 billion U.S. dollars in the wake of the 2008-09 financial crisis. However, recovery was relatively quick, and the automaker brought net income close to 16.9 billion U.S. dollars in 2011. In 2020, Ford was unable to avoid falling in the red.
Global net income or loss attributable to the Ford Motor Company from FY 2007 to FY 2020
(in million U.S. dollars)
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Ford. (February 5, 2021). Global net income or loss attributable to the Ford Motor Company from FY 2007 to FY 2020 (in million U.S. dollars) [Graph]. In Statista. Retrieved January 17, 2022, from https://www.statista.com/statistics/239719/global-net-income-of-the-ford-motor-company/
Ford. "Global net income or loss attributable to the Ford Motor Company from FY 2007 to FY 2020 (in million U.S. dollars)." Chart. February 5, 2021. Statista. Accessed January 17, 2022. https://www.statista.com/statistics/239719/global-net-income-of-the-ford-motor-company/
Ford. (2021). Global net income or loss attributable to the Ford Motor Company from FY 2007 to FY 2020 (in million U.S. dollars). Statista. Statista Inc.. Accessed: January 17, 2022. https://www.statista.com/statistics/239719/global-net-income-of-the-ford-motor-company/
Ford. "Global Net Income or Loss Attributable to The Ford Motor Company from Fy 2007 to Fy 2020 (in Million U.S. Dollars)." Statista, Statista Inc., 5 Feb 2021, https://www.statista.com/statistics/239719/global-net-income-of-the-ford-motor-company/
Ford, Global net income or loss attributable to the Ford Motor Company from FY 2007 to FY 2020 (in million U.S. dollars) Statista, https://www.statista.com/statistics/239719/global-net-income-of-the-ford-motor-company/ (last visited January 17, 2022)
