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Ford Motor Company rides wave of North American profits

Jul 28, 2015

Dearborn Truck Plant
Credit Tracy Samilton / Michigan Radio

Russia is in a recession. China's auto market, the largest in the world, is softening. 

The currency situation in South America is causing no end of headaches for global automakers.

Europe's market has improved, but it's still just coming out of a very deep trough.

Despite those headwinds in other regions, Ford Motor Company posted a record second quarter profit of $1.9 billion, largely due to demand in North America.

North American sales for the Dearborn automaker are going strong, and per-vehicle transaction prices are at a record level. 

Sales of crossovers, SUVs and trucks were particularly strong, including the new F-150. That's even though the second plant that will build the truck, in Kansas City, isn't back online yet, after production was halted to allow the plant to retool.

The F-150 is widely considered Ford's most profitable vehicle.

Chief Financial Officer Bob Shanks says the trucks are sitting on dealer lots for an average 32 days, about half the length of competitors. 

Shanks says he sees no sign that the pace of car sales will slow in the immediate future, and says the U.S. auto industry could sell 17.5 million vehicles overall this year.