Ford records $1.2 billion second quarter profit

Of course that figure is gross profit, net profit is a tidy $897 million or more than twice the profit in the second quarter of 2003. All this money rolls in despite a loss in worldwide auto sales. How does a car company make money when it's losing on actual car sales? Credit baby. Ford Credit (who I still owe a few payments to) is raking it in and saving the company lots of dough. That's good enws since Ford is eagerly waiting on the roll out of new vehicles. Bill Ford said "We'll generate lots of excitement with the introduction of new products such as the Ford Five Hundred, Freestyle and Escape Hybrid, the Land Rover Discovery/LR3 and the new Ford Focus in Europe." Ummm no mention of the Mustang?