Ford beats Wall Street expectations

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's quarterly profit beat Wall Street expectations, helped by higher prices and improved sales in North America.

Ford, the only US carmaker that did not accept a government bailout, has posted a net profit for eight straight quarters. It had racked up net losses of $30bn(£18.3bn) from 2006 through 2008 when it cut jobs, sold unprofitable brands and reshaped a lineup laden with large SUVs and pickup trucks.

In North America, Ford's pre-tax profit for the second quarter rose 0.5 per cent to $1.91bn.

North America was the only region where the company's profit improved. In Europe, where Ford's performance has been lagging in recent quarters, pre-tax profit was trimmed nearly in half to $176m.