DETROIT (Reuters) -Ford Motor Co on Wednesday boosted its profit forecast for the year after reporting better-than-expected quarterly results.
The No. 2 U.S. automaker raised its expectation for full-year operating profit by about $3.5 billion, to between $9 billion and $10 billion.
Ford estimated a roughly 30% increase in its vehicle volume from the first to the second half of the year. However, it said it also expected higher commodity costs, investments in the company’s “Ford+” plan and lower earnings by Ford Credit, leading to lower operating profit in the second half.
(Reporting by Ben Klayman and Paul Lienert in Detroit; Editing by Leslie Adler and Richard Chang)
