(July 29, 2015) DETROIT -- Ford has posted its largest-ever North American quarterly profit and its best automotive profit since 2000, as net income rose 44 percent in the second quarter. And it managed that gain without any additional help from the redesigned F-150, which didn’t reach full production until early June.

Lower sales volumes and costs related to launching the truck offset the benefits of higher transaction prices in the quarter, executives said.

But with inventories of the F-150 now rising — Ford has promised that dealers will have normal levels of it by the end of September — the automaker says it’s on track for one of its best years in its 112-year history.

Highlights Include:

    • Outstanding second quarter; company on track for a breakthrough year

    • Pre-tax profit of $2.9 billion, up $269 million or 10 percent from a year ago excluding last year‘s special item charges

    • Net income of $1.9 billion, up $574 million or 44 percent from a year ago

    • After-tax earnings per share of 47 cents, up 7 cents from a year ago excluding last year’s special item charges

    • Best automotive quarterly profit since 2000

    • Wholesale volume up 2 percent, driven by North America and Europe

    • Automotive revenue about equal, with higher net pricing and volume offset by unfavorable translation effects of the strong U.S. dollar on international operations

   • Global market share grew to 7.6 percent, up one-tenth of a percentage point from a year ago

    • 12 of 16 planned global new product launches completed; remainder on track

    • Introduced SYNC 3, the all-new communications and entertainment system

    • Continued strong profit at Ford Credit; pre-tax profit of $506 million

Sources: Ford Motor Company, Automotive News