About Ford Motor

Ford Motor Company produces and sells automobiles worldwide. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities, and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars, and Lincoln luxury vehicles, along with connected services. The company’s vehicle brands are Ford and Lincoln. In 2023, the company sold approximately 4,413,000 vehicles at wholesale throughout the world. Substantially all of the company’s vehicles, parts, and accessories are sold through distributors and dealers (collectively, dealerships), the substantial majority of which are independently owned. The company sells to its dealerships for retail sale. The company also sells vehicles to its dealerships for sale to fleet customers, including commercial fleet customers, daily rental car companies, and governments. The company also sells parts and accessories, primarily to its dealerships (which, in turn, sell these products to retail customers) and to authorized parts distributors (which, in turn, primarily sell these products to retailers). The company also offers extended service contracts. Segments The company operates through five segments: Ford Blue, Ford Model e, Ford Pro, Ford Next, and Ford Credit. Ford Blue segment Ford Blue primarily includes the sale of Ford and Lincoln internal combustion engine (ICE) and hybrid vehicles, service parts, accessories, and digital services for retail customers, together with the associated costs of development, manufacture, and distribution of the vehicles, parts, accessories, and services. This segment focuses on developing Ford and Lincoln ICE and hybrid vehicles. Additionally, this segment provides hardware engineering and manufacturing capabilities to Ford Model e and manufactures vehicles on behalf of Ford Pro and, in certain cases, Ford Model e. Ford Blue also includes: All sales for markets not presently in scope for Ford Model e or Ford Pro. In markets outside of the United States and Canada, sales to commercial, government, and rental customers of ICE and hybrid vehicles not considered core to Ford Pro. Sales of electric vehicles (EVs) by the company’s unconsolidated affiliates in China. All sales of vehicles manufactured and sold to other OEMs Ford Model e segment Ford Model e primarily includes the sale of the company’s electric vehicles, service parts, accessories, and digital services for retail customers, together with the associated costs of development, manufacture, and distribution of the vehicles, parts, accessories, and services. This segment focuses on developing EV and digital vehicle technologies, as well as software development. Additionally, Ford Model e provides software and connected vehicle technologies on behalf of the enterprise, and manufactures certain EVs, including for Ford Pro. Ford Model e operates in North America, Europe, and China. Ford Model e also includes EV and related sales not considered core to Ford Pro to commercial, government, and rental customers in Europe, China, and Mexico. Ford Pro segment Ford Pro primarily includes the sale of Ford and Lincoln vehicles, service parts, accessories, and services for commercial, government, and rental customers. Included in this segment are sales of all core Ford Pro vehicles, such as Super Duty and the Transit range of vans in North America and Europe and all sales of Ranger in Europe. In the United States and Canada, Ford Pro also includes all vehicle sales to commercial, government, and rental customers. This segment focuses on selling ICE, hybrid, and electric vehicles, and providing digital and physical services to optimize and maintain fleets, including telematics and EV charging solutions. This segment reflects external sales of vehicles produced by Ford Blue and Ford Model e and the costs (including intersegment markup) associated with acquiring vehicles for sale and providing services. Ford Pro operates in North America and Europe. Seasonality The company manages its vehicle production schedule based on a number of factors, including retail sales (i.e., units sold by its dealerships to their customers at retail) and dealer stock levels (i.e., the number of units held in inventory by its dealerships for sale to their customers). Historically, the company has experienced some seasonal fluctuation in the business, with production in many markets tending to be higher in the first half of the year (year ended December 31, 2023) to meet demand in the spring and summer (typically the strongest sales months of the year). Wholesales Wholesales consist primarily of vehicles sold to dealerships. For the majority of such sales, the company recognizes revenue when it ships the vehicles to its dealerships from its manufacturing facilities. Ford Next segment The Ford Next segment primarily includes expenses and investments for emerging business initiatives aimed at creating value for Ford in vehicle-adjacent market segments. Ford Credit segment The Ford Credit segment consists of the Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities. Ford Credit offers a wide variety of automotive financing products to and through automotive dealers throughout the world. The predominant share of Ford Credit’s business consists of financing the company’s vehicles and supporting its dealers. Ford Credit earns its revenue primarily from payments made under retail installment sale and finance lease (retail financing) and operating lease contracts that it originates and purchases; interest rate supplements and other support payments from the company and its affiliates; and payments made under dealer financing programs. Finance receivables and operating leases in the consumer portfolio include products offered to individuals and businesses that finance the acquisition of the company’s vehicles from dealers for personal and commercial use. Retail financing includes retail installment sale contracts for new and used vehicles and finance leases (comprised of sales-type and direct financing leases) for new vehicles to retail and commercial customers, including leasing companies, government entities, daily rental companies, and fleet customers. Finance receivables in the non-consumer portfolio include products offered to automotive dealers. Ford Credit makes wholesale loans to dealers to finance the purchase of vehicle inventory, also known as floorplan financing, as well as loans to dealers to finance working capital and improvements to dealership facilities, finance the purchase of dealership real estate, and finance other dealer vehicle programs. Ford Credit also purchases receivables generated by the company and its affiliates, primarily related to the sale of parts and accessories to dealers and certain used vehicles from daily rental fleet companies. Ford Credit also provides financing to the company for vehicles that it leases to its employees. The majority of Ford Credit’s business is in the United States and Canada. Outside of the United States, Europe is Ford Credit’s largest operation. Ford Credit’s European operations are managed primarily through its United Kingdom-based subsidiary, FCE Bank plc (FCE). Within Europe, Ford Credit’s largest markets are the United Kingdom and Germany. Joint Ventures The company has one significant consolidated joint venture, which is in its Ford Blue segment: Ford Vietnam Limited — a joint venture between Ford (75% partner) and Diesel Song Cong One Member Limited Liability Company (a subsidiary of the Vietnam Engine and Agricultural Machinery Corporation, which in turn is majority owned (87.43%) by the state of Vietnam represented by the Ministry of Industry and Trade) (25% partner). Ford Vietnam Limited assembles and distributes a variety of Ford passenger and commercial vehicle models. The joint venture operates one plant in Vietnam. In addition to the plants that the company operates directly or that are operated by its consolidated joint venture, additional plants that support the company’s Ford Blue, Ford Model e, and Ford Pro segments are operated by unconsolidated joint ventures of which it is a partner. The most significant of those unconsolidated joint ventures are as follows: AutoAlliance (Thailand) Co., Ltd. (AAT) — a 50/50 joint venture between Ford and Mazda that owns and operates a manufacturing plant in Rayong, Thailand. AAT produces Ford and Mazda products for domestic and export sales. BlueOval SK, LLC — a 50/50 joint venture among Ford, SK On Co., Ltd., and SK Battery America, Inc. (a wholly owned subsidiary of SK On) that will build and operate electric vehicle battery plants in Tennessee and Kentucky to supply batteries to Ford and Ford affiliates. Changan Ford Automobile Corporation, Ltd. (CAF) — a 50/50 joint venture between Ford and Chongqing Changan Automobile Co., Ltd. (Changan). CAF operates four assembly plants, an engine plant, and a transmission plant in China where it produces and distributes a variety of Ford passenger vehicle models. Ford Otomotiv Sanayi Anonim Sirketi (Ford Otosan) — a joint venture in Türkiye among Ford (41% partner), the Koc Group of Türkiye (41% partner), and public investors (18%) that is the sole supplier to the company of the Transit, Transit Custom, and Transit Courier commercial vehicles and the Puma for Europe and the sole distributor of Ford vehicles in Türkiye. Ford Otosan also manufactures Ford heavy trucks for markets in Europe, the Middle East, and Africa. The joint venture owns three plants, a parts distribution depot, and a research and development center in Türkiye, and a combined vehicle and engine plant in Romania. JMC — a publicly-traded company in China with Ford (32% shareholder) and Nanchang Jiangling Investment Co., Ltd. (41% shareholder) as its controlling shareholders. Nanchang Jiangling Investment Co., Ltd. is a 50/50 joint venture between Changan and Jiangling Motors Company Group. The public investors in JMC own 27% of its total outstanding shares. JMC assembles Ford Transit, a series of Ford SUVs, Ford engines, and non-Ford vehicles and engines for distribution in China and in other export markets. JMC operates two assembly plants and one engine plant in Nanchang. History Ford Motor Company was founded in 1903. The company was incorporated in Delaware in 1903.

Country
Industry:
Motor Vehicles and Passenger Car Bodies
Founded:
1903
IPO Date:
01/02/1968
ISIN Number:
I_US3453708600
Address:
One American Road, Dearborn, Michigan, 48126, United States
Phone Number
313 322 3000

Key Executives

CEO:
Farley, James
CFO
Lawler, John
COO:
Galhotra, Ashwani