Ford published its Q1 2022 earnings this week, and it showed a net loss of $3.1 billion. The company points to its investment in Rivian stock as the reason for the loss. Rivian's shares plummeted, which caused a big hit on Ford's profitability. However, the automaker continues to stick to its full-year guidance, even amid production constraints.
Ford also noted that while the global chip shortage limited vehicle production in January and February of 2022, March saw an uptick in production. The company's wholesale shipments were down 9 percent on the quarter, to around 970,000 vehicles.
