Ford Motor has just released a statement saying that its second-quarter profit fell 9% to USD1.97 billion and warned of a “very weak third quarter” as U.S. demand softens and the automaker launches redesigned versions of its heavy-duty pickups.
Even with the decline, Ford achieved record net income and margin for a half-year period. But executives said the company was at risk of falling short of its full-year targets and was undertaking a series of “profit improvement actions,” including cuts to manufacturing costs, without being specific. Ford is building F-150s at full speed, with rising transaction prices for the pickup translating to huge increases in margins. Updated versions of the Edge and Explorer crossovers also are making major contributions to the company’s bottom line.
