Ford beats Wall Street expectations

Ford'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.