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Ford’s second quarter numbers are strong, just not as strong as last year.
Net income was down nine percent at $2 billion from April to June, with a 52-cent a share profit, off two cents from a year ago and falling short of Wall Street’s expectations for 60 cents a share.
Ford’s Chief Financial Officer Bob Shanks says the U.S. auto market is leveling off, with the industry’s already high volume not going much higher.
Shanks adds the industry as a whole remains healthy, but with no signs of near-term growth based on current sales.
