Ford Motor tops earnings projections

Supply issue: A F-150 Lightning being assembled at a plant in Dearborne, Michighan. Ford is beset by an intractable chip shortage that slashed F-Series truck sales by 31% in the United States in the first quarter. — AFP/Ford Motor Co

MICHIGAN: Ford Motor Co slightly exceeded earnings expectations in the first three months of the year as higher prices offset supply-chain snarls that have limited production.

One day after rolling out an electric version of the F-150 pickup truck, Ford posted adjusted earnings per share of 38 US cents (RM1.66), topping the 36 US cents (RM1.57) analysts predicted on average.