US truck and SUV sales boost Ford's earnings

http://www.bbc.co.uk/news/business-34646936

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US carmaker Ford has reported a near-doubling of its third-quarter profit.

Ford's net profit was $1.9bn (£1.2bn) in the July-to-September period, compared with $1.1bn for the same quarter in 2014.

The strong revenue growth came mostly from sales in North America, where the F-150 truck and Explorer sports utility vehicle helped drive the increase.

Other markets were not so successful, Europe and South America both saw pre-tax profits decline.

Shares of Ford were up 1.18% ahead of the market opening.

Despite a pre-tax loss of $182m Ford's market share in Europe grew by 30%.

Market share was also up in Brazil, where a slumping economy has made it difficult for the company to turn a profit.

The profit from US truck and SUV sales is a positive sign for Ford, which spent heavily on boosting truck production and preparing for the launches of new SUVs.