Ford Motor Co.'s
second-quarter earnings fell 8% from the same quarter in 1994 to $1.6 billion, but were still the company's third-best second quarter ever. The automaker reported improved profit performance in Europe, earning $319 million compared to $152 million the year earlier. However, lower industry sales and unfavorable exchange rates resulted in a 25.3% drop in U.S. automotive operations earnings, to $663 million. Ford said lower production, investment in major product introductions like the Ford Taurus/Mercury Sable redesign and the continued effect of exchange rates are expected to dampen automotive returns in the second half of this year.
Copyright July 1995 Crain Communications Inc.