Ford Revenue Breakdown: Sales of New and Used Cars, Services, etc.

Ford River Rouge Complex, Dearborn, MI. Source: Flickr

This page presents an in-depth analysis of Ford Motor’s revenue breakdown, categorized by various sources such as new and used vehicle sales, services, leasing income, financing income, and insurance income.

These sources of revenue can be grouped into two main categories: automotive and financial services.

Let’s look at the numbers!

For other statistics of Ford Motor, you may find more information in the following pages:

Global Sales & Market Share

• Global sales and market share,

Wholesales

• Global wholesale and wholesale by country,
• Wholesale by segment,

Revenue

• Revenue by country: U.S., Canada, U.K., Germany, and Mexico,
• Revenue per employee in America, Europe, China, etc.,
• Revenue per car in North America, Europe, China, etc.,

Profit & Margin

• Profit margin breakdown: automotive, Ford Credit, etc.,
• Profit per vehicle,

Debt & Cash

• Financial health: debt level, payment due, and liquidity,
• Cash flow and cash on hand analysis,

Comparison With Peers

• Ford vs GM and Tesla: advertising and marketing budget,
• Ford vs General Motors: vehicle profit and margin,
• Ford vs Tesla: profit margin comparison,

Other Statistics

• Ford employee numbers and diversity statistics,

Please use the table of contents to navigate this page.

Definitions

To help readers understand the content better, the following terms and glossaries have been provided.

Company Excluding Ford Credit: “Company excluding Ford Credit” refers to the core automotive and mobility operations of the Ford Motor Company, separating its manufacturing and sales business from its financing subsidiary, Ford Motor Credit Company LLC.

Ford Credit: Ford Credit is the financial services subsidiary and captive finance arm of the Ford Motor Company, providing financing, leasing, and insurance products to consumers and dealers. It offers tailored purchasing options, including traditional financing and Red Carpet Lease plans for new, used, and certified pre-owned vehicles.

Used Vehicle Sales: Ford sells used vehicles both at auction and through its consolidated dealerships.

Proceeds from the sale of used vehicles are recognized in Company excluding Ford Credit revenues upon transfer of control of the vehicle to the customer, and the related vehicle carrying value is recognized in Cost of sales.

Leasing Income: Ford Credit offers leasing plans to retail consumers through Ford and Lincoln brand dealers that originate the leases. Ford Credit records an operating lease upon purchase of a vehicle subject to a lease from the dealer.

The retail consumer makes lease payments representing the difference between Ford Credit’s purchase price of the vehicle and the contractual residual value of the vehicle plus lease fees, which Ford recognizes on a straight-line basis over the term of the lease agreement.

Depreciation and the gain or loss upon disposition of the vehicle is recorded in Ford Credit interest, operating, and other expenses.

Financing Income: Ford Credit originates and purchases finance installment contracts.

Financing income represents interest earned on the finance receivables (including sales-type and direct financing leases). Interest is recognized using the interest method and includes the amortization of certain direct origination costs.

Insurance Income: Income from insurance contracts is recognized evenly over the term of the agreement.

Insurance commission revenue is recognized on a net basis at the time of sale of the third party’s product or service to our customer.

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Insight & Summary of Ford’s Revenue Breakdown By Source

The following analysis consolidates the trends observed across Ford Motor’s revenue streams for the 2017–2025 period.

• Total revenue has grown steadily from a post-COVID recovery base to record levels by 2025. Ford’s consolidated revenue expanded from $156.8B in 2017 to $187.3B in 2025 — a 19.5% increase over eight years — with the trajectory characterised by a sharp COVID-driven contraction in 2020 (-18.4%) followed by a sustained recovery. The 3-year average of $182.8B and 5.9% average annual growth over 2023–2025 reflect a mature, large-scale automotive business generating incremental rather than transformational revenue expansion. The FY2025 total of $187.3B represents a new record, though growth slowed materially to 1.2% from 5.0% in 2024, consistent with broader automotive sector demand normalisation.

• Automotive revenue is the near-exclusive revenue driver and has been structurally stable. With a 3-year average of $170.7B and a 93.4% share of consolidated revenue, the Automotive segment dominates Ford’s P&L in a way that leaves limited room for revenue diversification. Within Automotive, Vehicles, Parts & Accessories is overwhelmingly dominant at a 96.8% 3-year average mix — barely changed from 96.4% in 2017 — confirming that Ford’s revenue mix has not structurally shifted despite years of EV investment and fleet expansion. Services & Other is the highest-growth automotive sub-line at a 3-year average growth of 8.8% and 1.9% mix share, reflecting early-stage contributions from Ford Pro software, telematics, and connected vehicle services. Used Vehicles grew 31.2% in 2025 and 18.8% on a 3-year average basis — the fastest-growing Automotive sub-line — driven by elevated used vehicle pricing and Ford’s fleet remarketing activities. The overall Automotive segment grew 5.4% on a 3-year average, consistent with unit volume and pricing dynamics in Ford’s core North American and commercial vehicle markets.

• Financial Services has become an increasingly important and faster-growing revenue contributor. Total Financial Services revenue grew from $10.4B in 2023 to $13.5B in 2025, with a 3-year average of $12.1B and 14.3% average annual growth — meaningfully faster than the Automotive segment’s 5.4%. Financial Services’ share of consolidated revenue expanded from 5.9% in 2023 to 7.2% in 2025, with a 3-year average of 6.6%. This is a modest but directionally significant shift. Within Financial Services, the composition has undergone its most dramatic structural change in the dataset: Financing Income has displaced Leasing Income as the dominant contributor. Financing Income grew from $5.98B (57.7% of FS) in 2023 to $8.21B (60.7%) in 2025, with a 3-year average growth of 25.5% — driven by higher interest rates lifting yields on Ford Motor Credit’s loan and lease portfolio, as well as portfolio growth from Ford Pro commercial financing. Leasing Income has grown more modestly at 3.1% 3-year average, reflecting the industry-wide shift away from consumer leasing as residual value uncertainty increased post-COVID. Insurance Income, while small at a $137M 3-year average (1.1% of FS mix), grew 46.7% on average — the fastest growth rate in the dataset, albeit from a very small base.

• The 2022–2023 shift from Leasing to Financing dominance within Financial Services is the most structurally significant mix change in the dataset. Prior to 2023, Leasing Income was consistently the largest FS contributor (53% in 2017, 52.5% in 2020–2022). By 2023, Financing Income overtook Leasing at 57.7%, and by 2024 the gap widened to 63.1% vs. 35.7%. This shift reflects both higher interest rate income on the financing book and a deliberate Ford Motor Credit strategy to grow its commercial vehicle financing portfolio through Ford Pro — a segment where financing attachment rates and loan values are higher than consumer retail.

• Structural Takeaway: Ford’s revenue story over the 2023–2025 period is one of modest top-line growth (+5.9% average), heavy dependence on Automotive volumes, and a Financial Services segment that is growing materially faster and gaining strategic importance. The near-zero Automotive growth in 2025 (+0.7%) against a Financial Services tailwind (+9.1%) suggests that future consolidated growth will increasingly depend on Ford’s ability to expand its financial services portfolio — particularly through Ford Pro commercial financing — rather than traditional vehicle revenue alone. Services & Other within Automotive, at $3.6B and growing at 12.0% in 2025, is the other emerging growth vector to watch.

The table below combines all key Ford’s revenue by source metrics into a single view for the latest three fiscal years.

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Automotive, Financial Services, and Consolidated – Revenue Numbers

Ford’s automotive revenue is derived primarily from Company Excluding Ford Credit, while financial services revenue comes primarily from Ford Credit.

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Automotive, Financial Services, and Consolidated – Revenue Mix

Ford’s automotive revenue is derived primarily from Company Excluding Ford Credit, while financial services revenue comes primarily from Ford Credit.

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Automotive, Financial Services, and Consolidated – Revenue Growth

Ford’s automotive revenue is derived primarily from Company Excluding Ford Credit, while financial services revenue comes primarily from Ford Credit.

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New and Used Vehicles, Parts, Accessorries, and Services – Revenue Numbers

The definition of Ford’s used vehicle sales is available here: used vehicle sales.

That said, Ford’s primary revenue stream is derived from the sales of new vehicles, parts, and accessories, as depicted in the graph above. This category constitutes the most significant portion of the company’s income, substantially surpassing all other revenue sources.

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New and Used Vehicles, Parts, Accessorries, and Services – Revenue Mix

The definition of Ford’s used vehicle sales is available here: used vehicle sales.

That said, Ford’s primary revenue stream is derived from the sales of new vehicles, parts, and accessories, as depicted in the graph above. This category constitutes the most significant portion of the company’s income, substantially surpassing all other revenue sources.

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New and Used Vehicles, Parts, Accessorries, and Services – Revenue Growth

The definition of Ford’s used vehicle sales is available here: used vehicle sales.

That said, Ford’s primary revenue stream is derived from the sales of new vehicles, parts, and accessories, as depicted in the graph above. This category constitutes the most significant portion of the company’s income, substantially surpassing all other revenue sources.

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Leasing Income, Financing Income, Insurance Income – Revenue Numbers

Ford’s leasing, financing, and insurance income is derived primarily from Ford Credit, a wholly-owned subsidiary that provides vehicle-related lending and loan services. The definitions of these revenue streams are available here: leasing income, financing income, and insurance income.

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Leasing Income, Financing Income, Insurance Income – Revenue Mix

Ford’s leasing, financing, and insurance income is derived primarily from Ford Credit, a wholly-owned subsidiary that provides vehicle-related lending and loan services. The definitions of these revenue streams are available here: leasing income, financing income, and insurance income.

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Leasing Income, Financing Income, Insurance Income – Revenue Growth

Ford’s leasing, financing, and insurance income is derived primarily from Ford Credit, a wholly-owned subsidiary that provides vehicle-related lending and loan services. The definitions of these revenue streams are available here: leasing income, financing income, and insurance income.

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Credits and References

1. All financial figures presented were obtained and referenced from Ford Motor’s quarterly and annual reports published on the company’s investor relations page: Ford shareholders page.

2. Flickr Images.

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Disclosure

We may use artificial intelligence (AI) tools to assist us in writing some of the text in this article. However, the data is directly obtained from original sources (usually the quarterly and annual reports) and meticulously cross-checked by our editors multiple times to ensure its accuracy and reliability.

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