Ford surprises in 2Q with record North American profit - WPXI Pittsburgh
Ford Motor Co. 's net income jumped 44 percent to $1. 9 billion in the second quarter as global sales rose and customers paid more for new trucks and SUVs with premium features. Ford pulled off a record quarterly profit of $2. 6 billion in North America even though dealerships weren't fully stocked with its best-selling vehicle, the F-150 pickup. The results bode well for the second half of the year, when Ford's two U. S. truck plants will be in full production and dealers will have more pickups to sell. 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. 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, which last week reported a record second-quarter profit of $2. 8 billion in North America on the strength of its SUV and truck sales. Ford's profit of 47 cents per share compared with a profit of 40 cents. Source: www.wpxi.com
