Ford Motor Company’s 2025 financial results show a company navigating a period of transition — with profitability concentrated in its commercial and financing operations, while electric vehicle investments continue to weigh on earnings.
According to Ford’s 2025 Form 10-K, the company’s adjusted EBIT totalled $6.78 billion for the year. Segment performance varied significantly across the four core reporting units: Ford Blue, Ford Model e, Ford Pro, and Ford Credit.
Ford Pro, the company’s commercial and fleet-focused division, remained the largest earnings contributor in 2025. The segment generated $6.843 billion in EBIT, down from $9.007 billion in 2024. Despite the year-over-year decline, Ford Pro accounted for the majority of total segment earnings.
Ford Pro includes sales of Super Duty trucks, Transit vans, and other commercial vehicles, along with telematics, fleet management services, and EV charging solutions. The segment’s performance reflects the continued strength of Ford’s commercial customer base across North America and Europe.
Ford Blue, which represents the company’s internal combustion engine (ICE) and hybrid retail vehicle business, reported $3.024 billion in EBIT in 2025, down from $5.269 billion in 2024. EBIT margin declined to 3.0% from 5.2% the prior year.
Ford Blue wholesales decreased 5% year over year, driven by lower North American wholesales, planned reductions in dealer inventory, and disruption in aluminium supply affecting F-150 production. Higher tariff-related costs and adverse exchange were additional headwinds.
Ford Model e, the company’s electric vehicle and digital platform segment, reported a $4.806 billion EBIT loss in 2025, an improvement from the $5.105 billion loss in 2024. Wholesales increased 69% year over year to 178,000 units, and revenue rose 73% to $6.67 billion. However, the segment continued to operate at a negative margin of 72.1%.
The 2025 results were also impacted by significant special items at the company level, including asset impairments and EV program cancellations, though these are excluded from segment EBIT as reviewed by management.
Finally, Ford Credit, the company’s financing arm, delivered $2.557 billion in EBT in 2025, up from $1.654 billion in 2024. Ford Credit primarily earns revenue through retail instalment financing, lease contracts, and dealer financing prog.
Taken together, Ford’s 2025 segment results show a company where commercial vehicles and financial services remain key profit centres, traditional ICE operations continue to generate positive earnings despite margin pressure, and EV investments are scaling in volume but not yet contributing positively to operating income.
All figures above reflect segment EBIT/EBT as reported in Ford’s 2025 Form 10-K.
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John Cunningham is an Automotive Technician and writer on Rustyautos.com. He’s been a mechanic for over twenty-five years and has worked for GM, Volvo, Volkswagen, Land Rover, and Jaguar dealerships.
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