Ford’s $1.23 Billion Earning Credited to Truck Sales
It seems that no one is benefitting from the growing demand for pickups more than Ford Motors. According to NYDailyNews.com, Ford is reporting better-than-expected earnings for the second quarter and raised its profit and sales forecasts for the year. This, combined with the increased want for the pickup truck in the U.S., is propelling Ford to the top.
Ford earned $1.23 billion in the April-June period, up 18.5 percent from a year ago. Ford’s results were driven by a $2.3 billion profit in North America.
Pickup truck sales are growing; this is largely due to construction businesses replacing the fleets they held onto during the recession. Ford’s F-series – which has been the best selling vehicle in the U.S. – saw a 26 percent increase in the second quarter. Ford now believes that its full-year pretax profit will be equal to or better than the $8 billion it reported a year ago.
