Ford posts surprise profit on surging prices of scarce cars


Popular choice: The charging door to a Ford Motor Co F-150 Lightning electric vehicle. The company has more than 120,000 reservations for the pickup. — Bloomberg

MICHIGAN: Ford Motor Co overcame a critical parts shortage and managed to post a surprise profit in the second quarter, thanks to surging prices on models that have become harder to find on dealer lots.

The automaker also raised its full-year forecast for adjusted earnings to a range of US$9bil (RM38bil) to US$10bil (RM42.2bil) before interest and taxes.

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