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By Nick Carey and Paul Lienert
DETROIT, April 25 (Reuters) – Ford Motor Co on Thursday posted a better-than-expected first-quarter as pickup truck sales remained strong in its core U.S. market and the company expressed greater confidence in its forecast that 2019 would bring better results than last year.
Ford has launched a long restructuring of its business that will include cutting costs by $11 billion by 2021 and overhauling its product lineup.
Virtually all of the No. 2 U.S. automaker’s profit was generated in the U.S. market, thanks to a strong performance by its best-selling F-Series pickup trucks and its new Ranger midsize pickup truck. The company lost money in most other markets, but less than it had expected.