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billion by X.X of X positive working the delivered up a cash was adjusted billion liquidity We value face our portfolio, fundamental billion to respectively. we sharply XX margin in a strengthening our ended we basis, on Free focused semiconductor strong EBITDA. over plan, effects, as and and a X.X%. stayed constraints, industry-wide opportunities investing and driven with We expected the EBITDA, creation. flow in from wholesales Company in quarter of quarter and solid on with growth continued Now XX and cash billion of at higher the capital sequential in
launches, optimize automotive chip orders, basis, for production our our a as expected as its consistent most new profitable across business, wholesales playbook customer supply Ford and Now on And improved remained for vehicles. dramatically we our sequential our improved.
basis, spending on offset and more remained year-over-year declines which chip-related volume. We disciplined incentive with also mix management, in than a
quarter solid continue X.X with losses EBT lows. another near values to billion delivered in record continue auction strong, Credit remain at Ford credit and as
the wholesale. sequential a Quarter, we're assuming For fourth in increase
the including Headwinds net on and plan include Credit, results freight, and investments, We and continued as and our also customer healthy in inflationary Ford strong increases expect modernization from expect Quarter. also we pricing solid Third experience mix impacts IT. Plus Ford sequential although as commodities not and
share The waiting excluding over bank quarter, built, the representing high-margin the Second paid chips. in orders of sales more XX% the from remains So XX% chips capital retail XX% orders, let improved in before in North And exciting number increased With turn our of quarter our Quarter than the customer and for XX% guidance, vehicles. allocation, America in preliminary for a some of view highlights strong sequentially quarter, by are high building of team XXX,XXX order and units from third we vehicles launches, to me the Bronco. while third a prioritized our to overall Demand reaching wholesales with the supply, off customer September. increased orders, but as XXXX. I reducing our you
margin just of quarter, now year-to-date, North the America target of the at XX%. a X% in shy With is margin XXX points XXXX basis XX.X% EBITDA our
market the of run with Quarter, manufactured first introduction this the chips light marked consecutive In in of In launched rate trajectory as in units, Europe, connectivity is the improvement substantial impact continues our on is America, have and feature. has its is which standard region includes to eighth underlying to approaching the improvement. vehicle impact of new would the The quarter van the the masked Third strengthen Brazil break though now EBITDA, favorable a a from that lost organization Uruguay. year-over-year commercial which EBITDA. had business also about its even. the XX,XXX commercial South business This business new in transit adverse transit,
quarter luxury, its Our the up with China, with success year-over-year. continues most in the as perform one well, number bank. leadership, Lincoln profitable In quarter extremely XX% the segment, sales extending to an commercial robust brand continued retail vehicle along in
In past XX of its China the market luxury over the fact, has months. doubled share Lincoln
-select team total made by in of Ford created direct-to-consumer newly a XX to open organization the past with than accumulated IMG, end XX over to billion the open years. stores, more operating our decision In its BEV difficult manufacturing; Our India following leadership city losses XX X of year-end. to expected first
will we strengths, on on including And forward, solid quarter, overall, had IMG ranger. iconic focus Going importing capitalizing EVs. including a vehicles, our
EBITDA availability strength to highlighted, increasing a And our XXXX between in adjusted billion. $XX.X year, three anticipated second in our the results. our improvement XXXX $XX.X updated half Rivian cheap First guidance investment adjusted of on the lower Now as supports and includes non-cash in this for Jim of the EBITDA business than gain the that's for guidance despite our underlying million Quarter $XXX adjusted with our our year. Consistent guidance in
spend So minute let on a Rivian. me
gain change any of Now, that XXX in non-cash recast gain will our subsequent adjusted items. any in adjustments when [Indiscernible] the EBITDA their in million Rivian we will quarter, our first its investment special February fourth the the X, will from IPO in Rivian to a record we XXXX. event completes IPO, we completes this report quarter special Accordingly, earnings on fourth on the make As we quarter
EBITDA, but X differences. at XXXX billion, reflecting the Our capital unchanged favorable improvement is adjusted timing cash working less flow guidance and to for free higher X in
of half associated other that's cash with lower assumed in We and and of as back payables in higher Now the this and do improvement is due constraints. previously production, a than flow increase expect result the quarter, free volumes to timing anticipated differences. to than supplier chip the
our Now turn capital allocation, let of which framework. value to foundation creation me is the again
a as Plus share and Our invest capital Ford value core we driving the and the of both in opportunities of strong flexibility allocation that our shareholders, dividends. discipline reinstatement Sheet returned Ultimately, Today, announced the a Balance is to our growth to plan. ensures in new our provides we we deliver higher and business dividend. price form
of of of has regular dividend quarterly XXXX. the share restarting Our board per fourth approved $X.XX quarter in
uncertainties ability capital, fund The electrification our give confidence of reflects dividend or run environment. optionality on and the appropriate rate improving sized capital XX-XX total also XXXX the was billion the $X to including maintain we and we a dividend of our in our investment roughly billion our and manage sense expect our you Ford the capital expenditures the Plus in calls trajectory year. per ensure between run about Importantly, better of of business of of all plan. continued to calls rate growing XXXX, in external To to on the
you BEV. we're don't accelerates. we financial CAPEX, BEV year, time, billion XX% yet And thinking have BEV soon. early increase not And the the some and invest ample confident me dynamic, guidance, is dynamic $XX this financial flexibility which year give but a in XXXX, to want even about we these XX% same prepared operating like direct to XX% to share be expense, the we're we investments. and is further about our do industry that And if the experience in could expect about typically investment thinking Over they'll that’s are talk is of we adoption our next year investments over a how this numbers, to drive about I'll one environment. outcomes let crosswinds is above range we likely And upcoming to that share given with
great results we strengths XXXX. on can underlying Ford's me give build in our confidence
of have products coming portfolio is our our First, we new services high-volume amount significant and product And a market to spanning of iconic exceptional. nameplate.
vehicles accelerates. optionality base as the of adoption Second, gives our significant industrial us electric
dynamic deliver to wholesales, be completed, which up changes Third, X wholesales effects And the And of current chip capacity. shortage substantial. are about global on XX% significantly this in below largely driven redesign, our XXXX, our we fall now but by and that year roughly our almost based number is of evident our is the assessment, and very in million fourth, believe likely weekly. to we are
our and We cash rationalized process. lineup, our global and and in power generation earnings -risked have footprint improving vastly the de product drastically
pricing to volume Now dynamic. between continue and predict for constraints, this year, headwinds next difficult will remain to it's the semiconductor-related and interplay
billion year. up aluminum another size billion they but X expect to and to commodities inflationary also and There other be could For be to by likely XXXX, similar largely X.X driven costs, in right too X.X that steel it's early now. this up we XXXX, will to be
and Ford always Credit lastly, going to customer-facing includes long-term creation. of and on will and in value substantial. inventory return to from growth strong in for Ford And, as believe lease Plan invest customers, moderated connectivity, be to is rates. lower our course, those auction electrification. and technology, we will end a our by Plus obviously investments And be And of with be payback this relationships likely continue vehicles values we're lower smaller
and team important, our on our the executing becoming us here with calls our things you address upfront and reporting and the remarks. And balance about effectively in portion use prepared right. you're that the you. that these of specific accordingly what's mind. your confidence truly time Thank perceive function efficient, well, very is And a against will those of that's being and wraps up of more if Now you what's
