Ford Motor Co. has inched past longtime rival General Motors to become Michigan's largest manufacturer by revenue for 2025, reclaiming bragging rights in a rivalry that runs straight down I-94. The Dearborn automaker booked about $187.3 billion in consolidated revenue for the year, edging out GM on the state leaderboard in what amounts to a symbolic, but very real, scoreboard flip.
Crain's Detroit Business spotlighted the shake-up in its annual ranking of Michigan manufacturers, where Ford landed in the top spot with that roughly $187.3 billion tally for 2025. The list reflects consolidated revenue and confirms that, for at least this reporting year, Ford wears the crown.
Small Margin, Historic Flip
General Motors' 2025 Form 10-K shows consolidated net sales and revenue of about $185.0 billion for 2025, down from roughly $187.4 billion in 2024. That slight dip gave Ford just enough room to slide ahead on revenue, turning what used to be a comfortable GM lead into a razor-thin margin between the two Detroit-area giants. Those figures come from GM.
Revenue Doesn't Mean Profit
Ford's full-year results, however, were far from a victory lap. The company booked large one-time charges tied to EV programs and other special items, and it ultimately posted a net loss for 2025 even as revenue nudged higher. Ford reported an $8.2 billion net loss for the year, a stark reminder that winning on the top line does not automatically translate into stronger profitability.
GM, by contrast, stayed in the black. The automaker reported about $2.7 billion in net income on the consolidated line for 2025, buoyed in part by different margins and the contribution of GM Financial, according to its SEC filing. That split in bottom-line performance means Ford's new No. 1 ranking in Michigan is more about headline stature than any immediate shift in jobs, plants, or supplier relationships.
What To Watch Next
Analysts and Michigan-based suppliers will now be watching how the next few quarters play out: whether EV margins improve, how aggressive each company is with cost cuts and pricing, and what kind of guidance executives offer on future product cycles. The 2025 flip gives Dearborn a year of scoreboard swagger, but it also underscores how quickly leadership can change in the auto industry as global demand, technology bets, and cost pressures move the goalposts.
