Ford Motor and Stellantis both face challenges as traditional automakers transition to electric vehicles, but their financial positions differ significantly. Ford generated $187.3 billion in revenue for FY 2025, up 1.2% year-over-year, whilst posting a net loss of $8.2 billion. The company maintains a debt-to-equity ratio of 4.7x and generated $12.5 billion in free cash flow. Ford operates through 8,226 dealerships globally and pursues its Ford+ plan, splitting operations between Ford Blue for combustion engines and Ford Model e for electric vehicles. Stellantis reported $178 billion in revenue, down 2.1%, with a larger net loss of $25.9 billion. The company manages 14 brands across 130 markets, leveraging shared platforms to reduce costs. Ford's positive cash flow and smaller losses suggest stronger near-term financial health despite both companies facing industry headwinds.

Ford Motor reported nearly $187.3 billion in revenue for FY 2025, up 1.2% year-over-year, though it posted a net loss of approximately $8.2 billion. The company maintains a debt-to-equity ratio of around 4.5x and generated $3.5 billion in adjusted free cash flow. Tesla's revenue declined 2.9% to close to $94.8 billion in FY 2025, with net income of nearly $3.8 billion and a 4% net margin. The company holds a debt-to-equity ratio of roughly 0.1x and produced nearly $6.2 billion in free cash flow. Ford faces risks including recall campaigns and supplier dependencies, whilst Tesla contends with production ramp challenges and regulatory uncertainties around autonomous driving. Ford trades at a significantly lower forward P/E ratio than Tesla.

Ford announced it will end production of Lincoln vehicles in China for export to the US, whilst General Motors is reportedly ceasing sales of its Chevrolet brand in China. Ford will expand Lincoln production in the US, where it currently manufactures the luxury brand in Louisville and Chicago. The moves reflect American automakers' retreat from China as local rivals like BYD and Geely expand globally. Chinese manufacturers have been engaged in aggressive price competition, leveraging excess production capacity to undercut competitors worldwide. Meanwhile, Chinese automakers are exploring routes into the US market, likely through North American production rather than direct exports. However, a Trump administration report criticising Mexico as one of "China's biggest enablers" could complicate Mexican manufacturing plans.