The Ford Motor Company reported revenue streams of just over 158 billion U.S. dollars in 2022. This figure represents a growth in revenue of nearly 16 percent year-on-year. Vehicle wholesales grew from almost 3.9 million units in 2021 to around 4.2 million units in 2022.
A challenging year for the automotive industry
Though Ford's revenue appeared to trend upward from 2014 to 2018, the following years' results represented a sharp decline. In 2020, the COVID-19 pandemic severely impacted the automotive industry worldwide, and Ford was no exception: its revenue decreased 22 percent year-on-year, displaying the lowest result since the Great Recession. Despite an increase in the manufacturer's performance in 2021, the effects of the pandemic are still felt throughout its recovery. While vehicle sales started trending upwards again in the third quarter of 2020, the automotive industry was hit by different challenges in 2021: namely, the global chip shortage. As of June 2021, Ford planned to halt production across several of its plants in North America. This temporary altering of Ford's output contributed to higher costs and expenses, which negatively impacted the company's net income in 2022.
Ford and the future
In May 2021, Ford announced plans to expand into emerging markets, such as connected vehicles and subscription services. Moreover, the company intends to invest more than 30 billion U.S. dollars in electric vehicles through 2025 and it forecasts 40 to 50 percent of the sales volume will come from electric vehicle sales by 2030. That same month, the American automaker revealed the new electric model of its most popular F-Series pickup, the F-150. The manufacturer recently sold its majority stake in electric vehicle manufacturer Rivian, selling around 91 million shares in the startup in 2022.
Ford's revenue from FY 2008 to FY 2022
(in billion U.S. dollars)
The figures for 2008 to 2019 were taken from previous financial statements.
On January 1, 2010, the company adopted the new accounting standard regarding consolidation of variable interest entities. The figures for FY 2008 and FY 2009 may not be entirely comparable. The values have been rounded.
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Ford. (February 2, 2023). Ford's revenue from FY 2008 to FY 2022 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 02, 2023, from https://www.statista.com/statistics/267305/total-revenue-of-ford/
Ford. "Ford's revenue from FY 2008 to FY 2022 (in billion U.S. dollars)." Chart. February 2, 2023. Statista. Accessed December 02, 2023. https://www.statista.com/statistics/267305/total-revenue-of-ford/
Ford. (2023). Ford's revenue from FY 2008 to FY 2022 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 02, 2023. https://www.statista.com/statistics/267305/total-revenue-of-ford/
Ford. "Ford's Revenue from Fy 2008 to Fy 2022 (in Billion U.S. Dollars)." Statista, Statista Inc., 2 Feb 2023, https://www.statista.com/statistics/267305/total-revenue-of-ford/
Ford, Ford's revenue from FY 2008 to FY 2022 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/267305/total-revenue-of-ford/ (last visited December 02, 2023)
Ford's revenue from FY 2008 to FY 2022 (in billion U.S. dollars) [Graph], Ford, February 2, 2023. [Online]. Available: https://www.statista.com/statistics/267305/total-revenue-of-ford/