Ford posts $1.3B loss for 2020
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E-mail Xinhua, February 5, 2021
Ford Motor Company reported a loss of 2.8 billion U.S. dollars and a revenue of 36 billion dollars in the fourth quarter of 2020.
For the whole year of 2020, the Dearborn-based automaker reported a loss of 1.3 billion dollars and a revenue of 127.1 billion dollars, according to the automaker's fourth-quarter and 2020 full-year financial results released on Thursday.
The U.S. automaker generated 1.9 billion dollars in adjusted free cash flow in the fourth quarter of 2020, and ended the year with a higher cash of nearly 31 billion dollars and total liquidity of nearly 47 billion dollars.
Ford produced adjusted earnings before interest and taxes (EBIT) of 1.7 billion dollars in the fourth quarter, up from 485 million dollars 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.
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