Ford shares up despite second quarter profits declining

Ford motor company has seen its quarterly profits decline, but still beat Wall Street analyst expectations.

Net income fell to $2.4bn (£1.46bn) in the second quarter, from $2.6bn in the same period last year.  Approximately profit for second quarter is 200m lesser than last year same period profit. Company has improved its profit only in North America.

Shares rose 1.4% in early trade.

"Despite an unfavorable business environment, we further strengthened our balance sheet," said Ford president Alan Mulally.

Worldwide, ford Motor company announced plans to add 340 new Chinese dealerships by 2015, and also build its next next-generation "small SUV" in China.

The car manufacturer also raised its market share in the US and Europe.

Its revenues rose 13% to $35.5bn.

The company did not change its North American production outlook or its 2011 US sales forecast.

Ford was the only biggest US car manufacturer that was not subject to a US government bail-out during the financial crisis.