Ford closed the second quarter with a profit of $ 1.1 billion, or $ 925 million. That makes the American brand known Friday. Turnover and sales fell sharply, partly due to the corona crisis.
The number of deliveries fell by 53 percent in the second quarter to 645,000 new vehicles. Revenue halved to $ 19.4 billion. Still, Ford turned profit in the second quarter, much to the delight of CEO Jim Hackett. “We had a strong second quarter, in which we paid close attention to each other’s health and that of our customers. We also laid a good foundation for the near future.”
Measured over the first six months, red numbers were still written. The half-year loss came to $ 900 million with a 37 percent drop in sales and a 32 percent drop in sales. The quarterly profit was therefore largely due to a one-off investment by Volkswagen, with which Ford has a partnership in the autonomous driving department: Argo AI.
In the third quarter, Ford can count on the arrival of the new F-150 pickup truck, its flagship vehicle. Bronco, which was unveiled earlier this month in the United States, can also receive a lot of interest. In addition, the electric Ford Mustang Mach-E comes on the market.
In Europe, the brand benefits from the good sales of the Transit van and the demand for SUVs and crossovers, such as the new Kuga and Puma. Ford expects to close the third quarter with a profit of up to $ 1.5 billion.