Ford lost $2 billion in 2022 as some investments faltered

The company sold 1.15 million vehicles in the fourth quarter, up from 1.1 million a year earlier, but about 500,000 less than Ford had expected, Lawler said.

Ford’s production has been slowed by a global shortage of computer chips, and Lawler said the company expects some disruption to continue this year and an uptick in production volume.

“In 2023, there will still be volatility on chips,” he said. “On older chips used in the automotive industry, there is still a capacity constraint.”

Ford said it expects adjusted earnings before interest and taxes this year to be between $9 billion and $11 billion.

Ford shares were down about 7% in extended trading Thursday.

Earlier in the day, Ford said its U.S. car and truck sales rose 2% in January and its electric vehicle sales more than doubled in the month.

The automaker sold 145,070 cars and light trucks last month, down from 142,445 in January 2022, when a shortage of computer chips slowed production and left dealers with few vehicles to sell. At the end of January, Ford had 370,000 vehicles on dealer lots, down from 201,000 a year earlier, a strong signal that supply chain issues were easing.

Models responsible for the increase included pickup trucks, the Bronco sport utility vehicle and battery-powered models. Ford has sold 2,264 F-150 Lightning electric pickups, down from just 63 in January 2022, when the vehicle was first available. It also sold 2,626 Mustang Mach-E electric SUVs, up 11%.