Overview
- Ford posted a fourth-quarter net loss of $11.1 billion and a full-year net loss of $8.2 billion, driven largely by a $19.5 billion charge tied to restructuring its EV programs.
- Tariff expenses reached about $2 billion for 2025 after a late policy change, and fires at Novelis’s Oswego aluminum plant added roughly another $2 billion in costs and constrained F‑150 production.
- The Model e unit lost about $1.2 billion in Q4 and $4.8 billion for 2025; executives project another $4–$4.5 billion EV loss in 2026 and target profitability for the unit around 2029.
- Ford issued 2026 guidance for adjusted EBIT of $8–$10 billion, adjusted free cash flow of $5–$6 billion, and capital spending of $9.5–$10.5 billion.
- The strategy pivots toward hybrids and lower-cost EVs, ends the current all-electric F‑150 Lightning, plans a new Universal EV platform from about 2027, and includes partnerships with Renault in Europe and reported talks with Geely.