The company sold 1.15 million vehicles in the fourth quarter, an increase from 1.1 million a year earlier but about 500,000 fewer than Ford had expected, Mr. Lawler said. Ford's production has been slowed by the global shortage of computer chips, and Mr. Lawler said the company expected some disruptions to continue this year and a slight increase in production volume. "In 2023, there is still going to be volatility on chips," he said. "On the older chips used in the auto industry, there is still capacity constraint." Ford said it expected this year's adjusted earnings before interest and taxes to range between $9 billion and $11 billion. Shares of Ford stock were down about 7 percent in extended trading on Thursday. Earlier in the day, Ford said that its sales of cars and trucks in the United States increased 2 percent in January and that its sales of electric vehicles more than doubled in the month.