Ford earnings rise on lower taxes

AFP, NEW YORK: Ford reported a jump in third-quarter profits yesterday on lower tax expenses as strong US sales of pickups and SUVs lifted results in North America.

Net income for the quarter ending September 30 was $1.6 billion, up 63.4 per cent from the year-ago period. Revenues rose 1.4 per cent to $36.5 billion. Ford’s popular F-Series pickup truck scored a 14 per cent gain in US sales compared with the year-ago quarter, while SUVs rose four per cent.

Pre-tax profits in North America were higher as Ford pointed to higher transaction prices and lower incentives compared with the industry as a whole.

Ford earnings rise on lower taxes

AFP, NEW YORK: Ford reported a jump in third-quarter profits yesterday on lower tax expenses as strong US sales of pickups and SUVs lifted results in North America. Net income for the quarter ending September 30 was $1.6 billion, up 63.4 per cent from the year-ago period. Revenues rose 1.4 per cent to $36.5 billion. Fords popular F-Series pickup truck scored a 14 per cent gain in US sales compared with the year-ago quarter, while SUVs rose four per cent. Pre-tax profits in North America were higher as Ford pointed to higher transaction prices and lower incentives compared with the industry as a whole.