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Profits Higher at Ford

American Government Special Collections Reference Desk

Topics:  Ford Motor Company

Profits Higher at Ford

VOA News
July 23, 2010 at 1:55 pm

The second largest U.S. automaker also reported higher profits Friday.

Ford Motor Company — the only major U.S. automaker not to take a U.S. government bailout during the financial crisis — said second-quarter net income reached $2.6 billion. Still, Ford officials warned of slower sales over the next six months due to the slow economic recovery in the United States.

Ford also cut its forecast of total U.S. vehicle sales for this year, but said it expected the company’s profits to improve further in 2011.

Meanwhile, Europe’s biggest carmaker said Friday that vehicle sales jumped almost six percent in June compared to the same time last year.

Volkswagen said the increase was due to strong demand in China and the U.S.

However, Volkswagen sales chief Christian Klingler said future sales are uncertain because “the economic situation remains uncertain.”

Some information in this story was provided by AP, Bloomberg and Reuters.  Article originally titled, "Profits Higher at McDonald’s, Ford," non-automotive information removed.

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