Ford reported a lost of $2.2 billion in 2022 as it wrote down the value of two big investments and struggled with high costs and supply chain problems.
But it’s not all bad. Prices shot up in 2022 as demand outstripped supply. With demand expecting to fall in 2023, Ford executives believe prices could discount as much as 5 percent as automakers will be under pressure to sell vehicles, with an increasing emphasis on electric vehicles.
Ford sold 2,264 electric F-150 Lightning pickup trucks, up from just 63 in January 2022, when the vehicle had just become available. It also sold 2,626 Mustang Mach-E electric S.U.V.s, up 11 percent.
Ford halted production of the Mach-E in January while modifying its plant in Cuautitlán, just north of Mexico City, to increase output. Production will restart this month, the company said.
While it’s not close to catching up with Tesla, which sells two out of every three EVs in the U.S., Ford’s EV production is increasing rapidly. At the end of last year, Ford was building 12,000 EVs a month. By the end of 2023, Ford expects EV production will reach 50,000 a month.