Ford Motor Co on Thursday posted a better-than-expected first quarter largely du...
DETROIT - Ford Motor Co on Thursday posted a better-than-expected first quarter largely due to strong pickup truck sales in its core U.S. market and said it was more confident in its forecast 2019 would bring better results than last year.
Two of every five full-size pickups sold in the United States in the first quarter were Ford F-series, with segment-leading transaction prices averaging just under $48,000, according to Jim Farley, president of New Businesses, Technology & Strategy. Ford also made a small profit in Europe and the profit at its financing arm also grew. But the automaker’s global market share fell to 5.9 percent from 6.5 percent as it lost ground in every major market except North America.
China unit sales fell 48 percent in the quarter, but Ford said higher-priced products helped deliver a smaller loss than in the same quarter in 2018.
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