Ford’s German unit Ford-Werke AG’s boosted first-half pretax profit 86% as cost cuts more than compensated for lower sales, the Detroit News said.
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First-half pretax profit rose to 54 million euros, or $US53 million, from 29 million euros while sales fell 9% to €8 billion newspaper said, citing a filing with the Frankfurt stock exchange.
Vehicle sales fell 17% to 555,000 units on lower demand for cars amid slowing economic growth in Europe but Ford this year won market share in Western Europe from GM and Volkswagen, the Detroit News said.
