Ford profits boosted by US and China
- Published
Carmaker Ford has reported healthy profits thanks to strong demand in its home US market and in China, which offset more losses in Europe.
Ford said it made $1.2bn (£781m) in the three months ending in June. Profits of $2.3bn in North America made up for losses of $348m in Europe.
In the US, the company has benefited from a rise in sales of pick-up trucks since the beginning of the year.
Ford sales have also risen by nearly 50% in the growing Chinese car market.
That compares with a 17% sales rise in the market as a whole.
In the US, Ford's best-selling model is its F-series pick-up, which has has benefited from the 22% overall rise in pick-up sales over the last six months.
Losses in Europe have continued to hit the company's profit line. However, Ford now expects to record a pre-tax loss of about $1.8bn in Europe during 2013 - that is the same as last year and lower than a previous estimate of about $2bn.