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Reuters

Ford raises 2020 earnings outlook, eyes shift to build-to-order

DETROIT (Reuters) -Ford Motor Co. on Wednesday raised its 2021 earnings forecast after reporting better-than-expected quarterly results, pushing the No. 2 US automaker’s share up nearly 3%. While an ongoing global chip shortage cost Ford’s market share in North America, Europe and China, higher prices for more profitable models such as large pickup trucks and SUVs helped boost sales and operating profits in North America, its largest market. Ford chief executive Jim Farley said the automaker planned to move from making vehicles that will eventually be stocked on dealer lots to building them on customer orders, reducing the discounts needed to make a sale. to reduce.