Ford Otosan's profit exceeded expectations

Ford Otosan's 2021 net profit was 8.8 billion TL, exceeding the expectations of 6.69 billion TL. In 2021, the company increased its sales revenues by 44 percent compared to the previous period and reached 71.1 billion TL.

Ford Automotive, which increased its overseas sales by 57 percent to 54.5 billion TL, increased its domestic sales by 12 percent to 16.5 billion TL. The operating profit increased by 96 percent compared to the previous year and reached 9.4 billion TL.

Ford, which sold a total of 361,600 cars in 2021, exported 288,500 of them abroad. While the company's capacity utilization increased by 4 points to 76 percent, it decreased by 26 points in the fourth quarter compared to the same period of the previous year and became 82 percent.

In the evaluation made by the company, it was stated that profitability was strong in 2021 due to the strong export performance achieved despite the chip crisis, pricing discipline, cost-reducing measures, effective expense management, exchange rate effect, and cost-plus export agreements.

While the company expects the total automotive market size to be between 800-850 thousand in 2022, it predicts retail sales to be between 90-100 thousand, exports to reach 350-360 thousand and investment expenditures to reach 620-670 million Euros.