Ford recorded a second quarter net income of $1.3 billion, representing a $78 million improvement over the same period a year earlier. The period was Ford’s 20th consecutive profitable quarter and the best on record since the second quarter of 2011.
“Our One Ford plan continues to deliver, enabling us to reach our 20th consecutive quarter of profitability,” said Mark Fields, president and CEO. “Moving forward, our commitment is to build on this success by accelerating our pace of progress, while delivering product excellence and driving innovation in all areas of our business.”
In North America, Ford posted a pre-tax profit of $2.44 billion, besting last year’s mark by $119 million. Ford’s market share slipped by 1.2 percent to 15.3 percent during the quarter, though, with the company attributing that decline to fewer fleet sales.
Despite the profitable quarter, Ford expects its North American profits to slip this year due to a planned 13-week plant shutdown linked to the market launch of its all-new F-150 pickup truck.
In Europe Ford managed a modest $14 million pre-tax profit, ending a 3-year losing streak. During the second quarter of 2013 Ford lost $306 million in the region.
Bolstered by strong demand in China, Ford’s Asia Pacific operations enjoyed a $159 million pre-tax profit, up $29 million over the same period a year prior.
Ford produced a total of 1.692 million vehicles during the second quarter, up 24,000 units over Q2 of 2013.
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