Ford Announces 2Q Profit; Market Share Rises
Ford also reports that its U.S. market share reversed its decline, rising to 15.6% for the quarter from 15.1% in the first quarter. It was 16.7% in the second quarter of 2006.
Despite the quarterly earnings, the company says it still doesn't expect to post an annual profit until 2009. Although its core North American operations showed improvement, they still posted a pretax loss of $279 million, compared with a pretax loss of $789 million a year ago. Ford's Premier Automotive Group--which includes Jaguar, Land Rover and Volvo--reported a pretax profit of $140 million for the quarter. All brands advanced.