Ford said its full-year guidance — which calls for a pretax profit of $10 billion to $11 billion — remains intact, and the company noted that its first-half operating profit of $6.8 billion is the company’s best ever. Ford is one of the top-selling brands in the U.K. and has engine and transmission plants there. DEARBORN, MICH.—Ford Motor Co.’s net income fell 9 per cent to $2.0 billion (U.S.) in the second quarter as the company struggled with flattening U.S. sales and a tougher market in China. Shanks said Britain’s exit vote will likely cost the company $400 million to $500 million annually in lower sales and weaker currency until the exit is completed. Europe — long a drag on profits — was a bright spot, with sales up 11 per cent.

Source: thestar July 28, 2016 14:15 UTC