“We continue to expect full year 2023 total company adjusted EBIT of $9 billion to $11 billion, adjusted free cash flow of about $6 billion and capital expenditures between $8 billion to $9 billion.”

In context

“ere down, both year-over-year and sequentially as we ramped up production of our all-new version of this highly popular truck. Ford Credit delivered EBT of $300 million, down $600 million from a year ago, reflecting lower financing margin, higher credit losses and lower lease income, all of which has been reflected in our full year outlook. Credit loss performance remains strong and is still below the historical average but beginning to normalize. Auction values remain robust, but down from their peak in the first half of 2022. Ford Credit liquidity remained strong at $26 billion, up $5 billion from year-end. In addition, despite the volatile market conditions, the company has already completed $12 billion of public issuance or roughly 50% of its 2023 funding plan. Turning to our outlook. We continue to expect full year 2023 total company adjusted EBIT of $9 billion to $11 billion, adjusted free cash flow of about $6 billion and capital expenditures between $8 billion to $9 billion. This guidance includes headwinds that reflect global economic uncertainty, higher industry-wide customer incentives as vehicle supply and demand rebalance, lower past service pension income, exchange and investments in growth such as customer service and connected services. And tailwinds driven by improvement in the supply chain, our higher industry volume with SAARs of about $15 million and $13 million in the US and Europe, respectively, launch of our all-new Super Duty and lower cost of goods sold, including materials and commodities. Turning to the segments. Ford Blue to deliver full year EBIT of about $7 billion cost improvements and higher industry volumes will likely be offset partially by pricing headwinds, as inventory stocks continue to normalize and industry incentives rise thro”