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Profitable CV business a highlight for Ford in second quarter

Jul 31, 2020

Source: https://www.automotiveworld.com/articles/profitable-cv-business-a-highlight-for-ford-in-second-quarter/

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Ford’s commercial vehicle (CV) business has long been a shining light for the company, providing valuable profits as the rest of the portfolio undergoes a reshape. The company has made the decision to focus long-term on SUVs, pick-ups and performance vehicles, but is also investing heavily in autonomous and electric vehicle technology.

Indeed, a highlight of the second quarter was the “profitable commercial vehicle business,” according to Chief Executive Jim Hackett, “which continues to gain share globally.” Overall, Ford’s adjusted earnings were down US$3.6bn year-over-year to US$1.9bn in the second quarter of 2020, albeit an improvement over the US$3bn decline that had been expected….

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Ford’s commercial vehicle (CV) business has long been a shining light for the company, providing valuable profits as the rest of the portfolio undergoes a reshape. The company has made the decision to focus long-term on SUVs, pick-ups and performance vehicles, but is also investing heavily in autonomous and electric vehicle technology.

Indeed, a highlight of the second quarter was the “profitable commercial vehicle business,” according to Chief Executive Jim Hackett, “which continues to gain share globally.” Overall, Ford’s adjusted earnings were down US$3.6bn year-over-year to US$1.9bn in the second quarter of 2020, albeit an improvement over the US$3bn decline that had been expected….

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