Ford Motor Co on Wednesday reported a lower-than-expected profit, weighed down b...
The automaker also posted a small profit in Europe and a far smaller loss in China versus the second quarter of 2018 as better pricing and new luxury models helped offset a poor performance in that market.
Ford’s ongoing restructuring includes cutting costs and overhauling its product lineup in key global markets like China and Europe. Earlier this month, Ford and Volkswagen AG said they will spend billions of dollars to jointly develop electric and self-driving vehicles, deepening a global alliance to slash development and manufacturing costs. The size and timing of the payoff from that alliance remain unclear.
“We have a long way to go ... to execute on our redesign,” Stone said. “We have a lot of work to do.”
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