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Ford profit beats forecast

Ford profit beats forecast
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Ford has posted its second best third quarter figures in the company’s history of 1.19 billion euros.

It was the 10th consecutive quarterly profit for the US number two car maker and topped Wall Street forecasts.

The company benefited from stronger output in North America after sales steadied over the summer.

But sales suffered in Europe where the carmaker took an operating loss of 221 million euros compared with a loss of 141 million a year ago.

“In Europe, it’s more problematic,” said Chief Financial Officer, Lewis Booth “We could be in a period of very slow growth as the sovereign debt crisis gets resolved and we see the fiscal austerity programmes working their way through the economies.”

Ford has raised its global and North American production forecast for the fourth quarter.