Profitable CV business a highlight for Ford in second quarter

The automaker is bullish on the prospects for its commercial vehicle division, no less due to the partnership with Volkswagen. By Freddie Holmes

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….

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