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Ford posts profit, raises outlook

Ford Motor Co. on Tuesday reported a $2.1 billion first-quarter profit, said it will deliver a “solid profit” for the year and boosted its second-quarter North America production by another 30,000 vehicles.

Ford Chief Financial Officer Lewis Booth said the auto maker should achieve a 2010 profit greater than the first-quarter results as consumers continue to buy as the U.S. economy recovers. The auto industry, however, will face a more challenging second half from rising interest rates, higher commodity prices and an expected sales drop in Europe.

[Wall Street Journal]