Ford Motor Company (Ford) operates in the global automotive industry. Ford operates in two sectors: Automotive and Financial Services. The Company manufactures or distributes automobiles across six continents.Its shares rose 3 percent in premarket trading Wednesday.
Ford earned $1.23 billion in the April-June period, up 18.5 percent from a year ago.
Ford's results were propelled by a $2.3 billion profit in North America, a second-quarter record for that region. Pickup truck sales are booming in the U.S., where construction companies and other businesses are rapidly replacing the fleets they held onto during the recession. Sales of Ford's F-Series pickup truck — which has long been the best-selling vehicle in the U.S. — jumped 26 percent in the second quarter, or more than three times the average industry increase.
Ford's total U.S. sales rose 15 percent during the quarter, according to Kelley Blue Book.
Ford also reported a best-ever profit of $177 million in Asia. Ford's sales jumped 47 percent in China the first six months of this year, compared with total industry sales growth of 17 percent, as the company introduced new vehicles like the EcoSport and Kuga SUVs.
Its automotive brands include Ford and Lincoln. The Company's Automotive sector includes Ford North America, Ford South America, Ford Europe, and Ford Asia Pacific Africa regions. During the year ended December 31, 2012, the Company sold approximately 5,668,000 vehicles at wholesale worldwide. Other Financial Services includes a range of businesses, including holding companies and real estate. The Company and its subsidiaries are also engaged in other businesses, including financing vehicles. Ford provides financial services through Ford Motor Credit Company. The No. 2 U.S. automaker reported pretax second-quarter profit of 45 cents per share. Analysts, on average, expected 37 cents per share, according to Thomson Reuters I/B/E/S.
The stock rose 3.1 percent to $17.47 in premarket trading.
Second-quarter revenue rose 15 percent to $38.1 billion.
Global vehicle prices, excluding the impact of incentives, rose $1 billion in the quarter. Prices increased in every region except Europe, where an economic downturn sent sales to 20-year lows in the first half.
The automaker reported a pretax profit of $2.3 billion in North America, its largest market and main source of profits. Truck sales were on a tear in the first half, which helped boost profits.
Outside North America, Ford also improved.
"I think we're at the beginning of the phase where over the next several years you'll start to see the operations outside North America take on more and more significance," Chief Financial Officer Bob Shanks told reporters in Dearborn, Michigan. "You're starting to see what's possible."
I was a buyer @ 6 a share and still a buyer @ 16 a share , Buy , Buy , Buy !!!!!!!!!!!!
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