USA Ford Motor Co on Thursday forecast that its 2022 operating profit will rise as much as 25%, boosted by North American demand and a strong environment for vehicle prices.

Ford posted an operating profit of $10 billion and an operating margin of 7.3% last year. Full-year net income of $17.9 billion includes a one-off item for its investment in electric-vehicle maker Rivian Automotive Inc.

Fourth quarter net income was $12.3 billion. Adjusted earnings before interest and taxes were $2 billion.

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