Ford Motor loses $3.1 billion due to chip shortage and Rivian

Ford Motor said it lost $3.1 billion over the past three months and its revenue slid, in part because of a shortage of semiconductor chips which limited the number of pickups and SUVs available for sale in North America, but also as a result of its heavy investment in electric-vehicle startup Rivian. 

Chief Financial Officer John Lawler pointed away from those losses, however, and said the company also made $2.3 billion in pretax profit. 

"Clearly the demand for our new products is very strong," Lawler said. "We continue to have issues with supply of chips, which constrained us, and in particular here in North America, it hit us disproportionately on our large vehicles."