SAN JOSE, California, United States (US): Ford on Tuesday raised its full-year profit forecast after strong US sales of high-margin sport utility vehicles (SUVs) helped offset weaker revenue and supply disruptions affecting its popular pickup trucks, reported German news agency, dpa.
The US carmaker now expects adjusted earnings before interest and taxes (EBIT) of USD10 billion to USD11 billion this year, up from its previous forecast of USD8.5 billion to USD10.5 billion.
Quarterly revenue fell 4 per cent from a year earlier to USD50.2 billion, as a fire at an aluminium supplier limited production of Ford’s popular F-Series pickup trucks.
The company offset some of the impact with higher sales of Bronco and Explorer SUVs in higher-priced trims.
Ford’s net result improved to break even from a loss of USD1.3 billion in the same quarter a year earlier.
Losses in its electric vehicle business narrowed as the company scaled back the division. – BERNAMA-dpa
