Profitable CV business a highlight for Ford in second quarter

Ford’s commercial vehicle (CV) business has long been a shining light for the company, providing valuable profits as the rest of the portfolio undergoes a reshape. The company has made the decision to focus long-term on SUVs, pick-ups and performance vehicles, but is also investing heavily in autonomous and electric vehicle technology.

Indeed, a highlight of the second quarter was the “profitable commercial vehicle business,” according to Chief Executive Jim Hackett, “which continues to gain share globally.” Overall, Ford’s adjusted earnings were down US$3.6bn year-over-year to US$1.9bn in the second quarter of 2020, albeit an improvement over the US$3bn decline that had been expected.