Ford Down Shifts to Net Loss of $800 Million in Q4

Revenue for the fourth quarter dropped 4% to $38.7 billion on lower worldwide wholesales, including a U.S. sales decline of 2% during the period.  What’s more, fourth-quarter operating profits were down 20% to $2.1 billion.  The company is facing a tougher market in China.  Reports also show that lower results at Ford’s financing entity also negatively impacted earnings.

Full-year operating results were $10.4 billion in 2016.

Ford’s full-year net income was $4.6 billion, down 60% over the prior-year, weighed down by a $3 billion special-item charge booked in the fourth-quarter related to its retiree-benefit plans. Ford also took another $200 million charge in the same quarter on the cancellation of its assembly plant in Mexico, which it started constructing in the summer.