Ford posts $1.1B surprise quarterly profit thanks to VW

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Excluding the windfall from the investment in Pittsburgh-based Argo, Ford posted a loss that was lower than Wall Street analysts had forecast. German automaker VW closed its $2.6 billion investment in Argo last month. Ford said it expects a pre-tax profit of between $500 million and $1.5 billion for the third quarter and a loss for the fourth quarter, which features three significant product launches delayed by the coronavirus shutdown earlier this year.

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Ford posts $1.1B surprise quarterly profit thanks to VW originally appeared on Autoblog on Thu, 30 Jul 2020 17:20:00 EDT. Please see our terms for use of feeds.

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