Ford posts quarterly profit
DEARBORN, Mich. — The automaker said U.S. sales, which hit a 30-year low in 2009, remain weak, with many shoppers not yet confident enough about the economy to buy new cars.
But shares of the Dearborn, Mich.-based company rose 62 cents, or 5 percent, to $12.71.
Ford President and CEO Alan Mulally said the company is making money in the challenging environment because of strong new products and a leaner, global structure in which more vehicles around the world share parts.
Ford cut its forecast for total U.S. auto sales to a range of 11.5 million to 12 million. The company had predicted sales of 11.5 million to 12.5 million cars and trucks.
Ford held its third-quarter production forecast steady at 1.27 million cars and trucks worldwide.
