Shares in Ford rose today on the back of a surprise second-quarter profit, which came after seven successive quarterly losses.
The motor company, which is in the midst of a restructuring plan that includes closing 16 plants and cutting up to 45,000 jobs, posted a net profit of $750m, or 31 cents per share, compared with a loss of $317m, or 17 cents, a year earlier.
The positive result for the quarter marked the first profit for Ford since the second quarter of 2005 and its first auto-related profit since the first quarter of 2005.
Ford shares rose 3.5% to $8.25 in pre-market trading from a Wednesday close of $7.97 on the New York Stock Exchange.
Ford said it was currently exploring in 'greater detail’ the sale of its Jaguar and Land Rover luxury units.
The number two US automaker also said it was conducting a strategic review of its Swedish luxury nameplate Volvo that is expected to conclude by the end of the year.
The firm said improvements in its auto operations were driven by better pricing and cost reductions.
