Ford posts $750m profit for Q2

[Plex]

Ford has reported a surprise profit of $750 million for the second-quarter, which comes after seven consecutive quarters in the red. Reasons cited for the positive result include recent cost-cutting and an improvement in the Blue Oval�s core automotive operations.

The carmaker is currently undergoing major restructuring as part of its �Way Forward� turnaround plan, which includes the closure of up to 16 plants and the loss of 45,000 jobs. For the same period last year, Ford lost a substantial $317 million, and analysts were predicting that it would be reporting a loss once again, reports Automotive News.

Ford�s latest models have seen a marked rise in quality, namely its new Fusion sedan and Edge crossover, but sales still fell nine percent for the quarter. Despite this, revenues were still up, moving to $44.2 billion from $41.9 billion a year earlier.

Things are definitely looking up for Ford. Its cars are now coming close to industry leader Toyota in terms of quality, winning several top spots in a recent J.D. Power Initial Quality Study, and US import plans for its Euro models in the near future will only improve its rep further.

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