Ford 2nd-Qtr Profit Falls 19% on U.S. Sales Decline

July 19 (Bloomberg) — Ford Motor Co., the No. 2 U.S. automaker, said second-quarter profit fell 19 percent as its North American auto operations lost money on falling sales of cars and trucks.

Net income dropped to $946 million, or 47 cents a share, from $1.17 billion, or 57 cents a share, a year earlier, Dearborn, Michigan-based Ford said in a statement today. The company’s North American operations, its largest, had a pretax loss of $1.21 billion. Most of Ford’s profit in the quarter came from making auto loans.

Bloomberg