Auto industry update: Ford (F) smashes sales records as VW pushes to #1 globally - Stockhouse

- Ford Motor Co. 's ( NYSE:F , Forum ) net income jumped 44 per cent to $1. 9 billion in the second quarter as global sales rose and customers paid more for new trucks and SUVs with premium features. Fields said Ford still expects to achieve a pretax profit of $8. 5 billion to $9. 5 billion this year. In North America, technology-rich versions of the Ford Explorer, Ford Edge and Lincoln MKX SUVs drew buyers to showrooms even as smaller, less-profitable cars like the Focus struggled. buyers paid an average of $37,013 for the new Edge crossover in the second quarter, or $1,683 more per vehicle than they were paying for the outgoing model last year, according to Kelley Blue Book. Ford said F-150 buyers paid an average of $3,800 more per truck in the second quarter, loading them up with features like a 360-degree camera and adaptive cruise control. Outside North America, new vehicles like the new S-Max wagon in Europe, the Ka small car in South America and the Mustang sports car in China commanded higher prices. The results mirrored those at Ford's crosstown rival, General Motors ( NYSE:GM , Forum ), which last week reported a record second-quarter profit of $2. 8 billion in North America on the strength of. Source: www.stockhouse.com