Ford Motor Co. on Thursday forecast its 2022 operating profit would rise as much as 25%, driven by North American demand and a strong vehicle pricing environment.

Ford reported an operating profit of $10 billion, and an operating margin of 7.3% for the year. Full-year net income of $17.9 billion included a gain on its investment in electric vehicle maker Rivian Automotive Inc.

Fourth-quarter net income was $12.3 billion. Adjusted earnings before interest and taxes was $2.0 billion.