Contrary to the expectations of the analysts, Ford’s sales increased in the past quarter. In Europe, the balance sheet does not look quite so rosy despite the increase in sales.
Ford was surprisingly in the black in the second quarter despite problems due to the lack of computer chips and raised its annual targets.
In the three months to the end of June, Ford earned 561 million dollars (474 million euros), as the second largest US automaker announced after the US stock market closed.
The quarterly profit was only around half as high as a year ago, but at that time an almost one billion dollar booking effect had lifted the balance sheet, which was heavily burdened by the Corona crisis, into positive territory. Analysts had expected a loss this time. Ford’s sales increased 38 percent to $ 26.8 billion.
The European business of the US auto company, however, fell back into the red after a significant profit in the previous quarter. Although sales here climbed 55 percent to $ 5.6 billion, there was an operating loss of $ 284 million. A year ago, however, Ford’s European balance sheet was still much stronger in the lousy.
After the trading hours, the share initially reacted to the quarterly figures with a price increase of almost three percent. Ford once again benefited from the high demand for SUVs and pick-up trucks, especially in its home market of North America. But production suffered from problems in the supply chain due to the shortage of chips and raw material shortages.
However, Ford expects the situation to ease and has raised its annual forecast for operating profit by $ 3.5 billion to $ 9 billion to $ 10 billion for 2021. Thanks to an improved supply of components, the group expects to produce 30 percent more cars in the second half of the year than in the first two quarters.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
