CHICAGO, July 24 (Xinhua) -- U.S. automaker Ford on Wednesday reported net income of 148 million U.S. dollars for the second quarter of 2019, 86 percent lower than the same period last year.
Ford said the sharp slide was a result of "ongoing global redesign and restructuring activities." Those initiatives accounted for 1.2 billion U.S. dollars of charges.
But Ford vowed to "continue to bring to market a fresh lineup of compelling products that build on well-established strengths."
According to Ford's Q2 results released on Wednesday afternoon, the automaker lost money in South America, the Middle East, Africa and China, but the losses in China were 328 million dollars less if compared to a year ago.
Ford delivered 154,042 units in China in Q2, which was a 21.7 percent decrease compared to the same period last year. However, sales of Ford-branded vehicles, import and domestic, and Lincoln vehicles were up 24 percent and 28 percent respectively when compared to Q1, 2019.
In April, Ford announced its new Ford China 2.0 transformation blueprint, in a bid to accelerate the redesign of its business, sharpen its focus on the Chinese market.
In the second quarter, Ford China reshuffled its leadership team and further strengthened cooperation with joint venture partners and local dealers.
Sales of the new Ford Focus reached a monthly record high of 7,176 units in June, up 88 percent from the previous month.
Meanwhile, Ford said that its imported vehicle lineup continued to be popular among Chinese customers. Sales of the high-performance Ford F-150 Raptor pick-up truck increased by 21.2 percent year on year.
Lincoln-brand sales in China were 12,404 units during the same period, up 7 percent from the same quarter last year. The Lincoln Navigator luxury SUV maintained strong growth, with first half sales up by 68 percent year over year.
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