Those figures aren't only more impressive than what GM could conjure up, they improved handily over the same period in 2014. Net profits were up by $574 million, or a staggering 44 percent, while pre-tax profits saw a 10-percent bump over 2014. Ford Credit also had a strong quarter, raking in just over half a billion dollars before taxes. So yeah, Ford calling Q2 "outstanding" in its press release is no exaggeration.
The vast majority of Ford's positive Q2 can be attributed to the North American market, which made up $2.6 billion of the company's pre-tax profits. South America, the Middle East, and Europe were all down, although Asia delivered some relief, making $192 million before taxes.
Scroll down for the official press brief from Ford.
FORD REPORTS STRONG SECOND QUARTER RESULTS; PRE-TAX PROFIT $2.9 BILLION; NET INCOME $1.9 BILLION
DEARBORN, Mich., July 28, 2015 – Ford Motor Company [NYSE: Ford] today reported its 2015 second quarter financial results. View the press release here and visit shareholder.ford.com to view the slide presentation and access the webcast to Ford's second quarter earnings call, which begins at 9 a.m. EDT with Mark Fields, president and chief executive officer, and Bob Shanks, executive vice president and chief financial officer.
Outstanding second quarter; company on track for a breakthrough year
Pre-tax profit of $2.9B, up $269M or 10 percent from a year ago excluding last year's special item charges
Net income of $1.9B, up $574M or 44 percent from a year ago
After-tax earnings per share of 47 cents, up 7 cents from a year ago excluding last year's special item charges
Best Automotive quarterly profit since 2000
Wholesale volume up 2 percent, driven by North America and Europe
Automotive revenue about equal, with higher net pricing and volume offset by unfavorable translation effects of the strong U.S. dollar on international operations
Global market share grew to 7.6 percent, up one-tenth of a percentage point from a year ago
12 of 16 planned global new product launches completed; remainder on track
Introduced SYNC® 3, the all-new communications and entertainment system
Continued strong profit at Ford Credit; pre-tax profit of $506M
Ford Smart Mobility plan moved from research to start of implementation; Ford Credit launched car-sharing pilot in six U.S. cities and London