Ford closed out 2025 with its strongest annual and fourth-quarter sales performance since 2019. Total U.S. deliveries rose 6% year-over-year to 2.2 million units, driving overall market share up to 13.2%. In the fourth quarter, Ford outpaced the broader industry with a 2.7% sales gain, securing an additional 0.9 percentage points of market share. The F-Series lineup remained the cornerstone of profitability, delivering over 820,000 pickups—a rise of 8.3%—and outselling the nearest competitor’s full-size trucks by roughly 250,000 units.

Ford’s full-year earnings per share fell sharply to $0.96 in 2025, down 48% from $1.84 in 2024 and marking the lowest annual EPS since 2020. Despite three consecutive quarterly beats through Q3—capped by a 367% surprise in Q1—the stock has underperformed expectations, trading near levels last seen in 2016. Profit margins remain thin at 2.48%, while return on equity sits at 10.3%, signaling that revenue growth is not translating into commensurate earnings.

After incurring losses exceeding $5 billion in its Model-e division, Ford has recalibrated its EV strategy to emphasize hybrids and extended-range models until its new Universal EV Platform can improve cost efficiencies. Hybrid sales set both quarterly and annual records in 2025, with over 228,000 units delivered. Executives describe this 'power of choice' approach—offering gasoline, hybrid and electric powertrains—as essential to balancing consumer demand and financial performance in the near term.

Heightened U.S. tariffs on Chinese electric vehicles have thus far limited low-cost imports, but shifting trade negotiations could quickly erode Ford’s pricing power. Ford CEO Jim Farley has warned that trade uncertainty may further inflate production costs, particularly given the company’s stalled domestic battery capacity. At the same time, Chinese automakers are expanding rapidly in Europe and Mexico, securing over 7% of the European EV market, and stand poised to target U.S. consumers if tariff barriers fall or trade agreements mandate local assembly.