Ford Motor Company, the country's second largest auto manufacturer, Tuesday reported another round of disappointing results, with second quarter profits falling 19 per cent over the same period last year, dpa reported. Although the figure was better than the 38 per cent drop in first quarter earnings, the news reflected the continuing slump in U.S.- made vehicle sales. Ford's second quarter net earnings of 946 million dollars, or 47 cents per share, was nonetheless better than expected. Earnings were mainly attributed to income from automobile loans, the Michigan-based company said in a statement, while slumping sales showed a pretax loss of 1.21 billion dollars. Ford saw its second quarter sales of U.S. units decline by 4 per cent. Through May, U.S. sales had declined 5.7 per cent compared with an industrywide decline of 1 per cent.
