The auto industry continues to grow rapidly despite the chip and supply crisis. Ford, participating in the electric vehicle rush, has published its financial report for 2021.
Drawing attention with the number of electric vehicles it sells in the US market, Ford is determined to dethrone Tesla. Gaining momentum with the F-150 Lightning, the company announced that in its 10-year plan, at least 40 percent of its vehicles will consist of electric models.
Ford ended 2021 with high profits
Announcing its net income, the company announced that they earned $ 17.9 billion in 2021. Ford, which lost $1.3 billion due to the pandemic process the previous year, came up with a pretty good profit this time.
The majority of the company’s earnings came from the North American market. However, Ford, which has made progress in many regions, including Australia, seems to regain its former popularity.
It is estimated that Ford, which had to raise its new models due to the chip crisis, will come to the agenda with a raise again in the first quarter of 2022. Despite the negativities experienced, it is stated that the company expects earnings growth of up to 25 percent in some regions.
Taking the competition with General Motors to the next level, Ford closed the year 2021 with a win. General Motors announced that they achieved a significant revenue increase of 55 percent compared to 2020. However, the company’s $10 billion revenue in 2021 was not enough to compete with Ford.
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