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Ford Posts Surprise Profit on Surging Prices of Scarce Cars

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  • Automaker lifts full-year outlook, sees annual profit tripling
  • Strong demand in home market of North America powers earnings
Ford CFO Sees Car Prices Moderating as Supply Increases

Ford Motor Co. overcame a critical parts shortage and managed to post a surprise profit in the second quarter, thanks to surging prices on models that have become harder to find on dealer lots.

The automaker on Wednesday also raised its full-year forecast for adjusted earnings to a range of $9 billion to $10 billion before interest and taxes. That’s an increase of about $3.5 billion from its previous projection and at least triple what it made last year.