Ford posts $1.3b loss for 2020

CHICAGO - Ford Motor Company reported a loss of $2.8 billion and a revenue of $36 billion in the fourth quarter of 2020.

For the whole year of 2020, the Dearborn-based automaker reported a loss of $1.3 billion and a revenue of $127.1 billion, according to the automaker's fourth-quarter and 2020 full-year financial results released on Thursday.

The US automaker generated $1.9 billion in adjusted free cash flow in the fourth quarter of 2020, and ended the year with a higher cash of nearly $31 billion and total liquidity of nearly $47 billion.

Ford produced adjusted earnings before interest and taxes (EBIT) of $1.7 billion in the fourth quarter, up from $485 million a year ago. The automotive EBIT margin was 3.8 percent.

Ford's retail sales in China went up 30 percent, faster than the overall industry, as the company achieved its fourth straight quarter of share growth. SUVs accounted for 36 percent of Ford's mix in China; commercial vehicles, namely light trucks, vans, buses and pickups, represented 45 percent.