The automaker, which owns Jeep, Ram and Fiat, said its profit more than doubled, thanks to higher prices and cost-cutting measures that outweighed interruptions caused by the semiconductor shortage.
Ford ended the year with more revenue than General Motors for the second year in a row.
The company made $10 billion in profit for 2021, a 55 percent increase from 2020.
The carmaker had a profit of $5.5 billion as sales of its electric vehicles continued to surge, especially in China and Europe.
The yawning disparity between the performance of the electric car company and established automakers last year reflects the technological change roiling the industry.
After struggling to produce cars because of a global computer chip shortage, automakers are trying to move quickly to making electric vehicles.
The electric-car maker managed substantial growth as Europe and China increasingly propelled sales.
The company, which began trading on the stock exchange last month, said it lost $1.2 billion in the third quarter.
The automaker also reported a big jump in revenue, to $13.8 billion from $8.8 billion a year ago, as sales of the Model Y continue to rise.
