Europe may have lost its appetite for new cars, but buyers in America and China propelled Ford Motor Co. to a profit in the third quarter. Ford said it made $1.63 billion, down only slightly from a year earlier, despite lower worldwide sales and bigger European losses. It was the company’s best performance ever in the third quarter. Ford said per-share net income was unchanged at 41 cents. The automaker reported a $2.3 billion pretax profit in North America, its best performance since the company began reporting separate North American results 12 years ago. Ford’s revenue fell 3 percent to $32.1 billion as vehicle sales dropped worldwide, but the company still exceeded Wall Street’s revenue forecast. Ford also last week it plans to close three European factories, affecting 6,200 employees.
Ford rises despite Europe losses
You've reached the limit of 10 free articles a month
Stay informed with unlimited access to Boston’s trusted news source.
- High-quality journalism from the region’s largest newsroom
- Convenient access across all of your devices
- Today’s Headlines daily newsletter
- Subscriber-only access to exclusive offers, events, contests, eBooks, and more
- Less than $1 a week