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.