Ford's Profit Falls 19% in Second Quarter

ord Motor Co. Tuesday reported its profit dropped 19% as North American auto operations lost money on falling car and truck sales.

The No. 2 U.S. automaker reported its net income fell to $946 million or 47 cents a share, from $1.17 billion or 57 cents a year earlier.

Its North American operations had a pretax loss of $1.21 billion. Revenue rose 3.9% to $44.5 billion.

Profits and sales at Ford are declining even as automakers are selling more cars in the United States this year, Bloomberg reported. Ford’s second-quarter share of the U.S. market fell to 18.2%, from 19.7% a year earlier, Bloomberg said.

Pending items in the automaker’s balance sheet included an expense of $313 million, or 15 cents a share, in its pending bailout of Visteon, a former Ford unit and its largest supplier.