Ford reported record earnings of $1.66 billion, or $3.43 cents a share, in the second quarter.

Ford reported first-quarter earnings of $506.2 million, down 70 percent from a year ago.

Ford also reported strong sales of its redesigned F-150 pickup.

Ford reported the largest decline in car sales, down 20.2 percent, to 43,628.

In the first half of this year, Ford reported a $2.2 billion profit.

Ford reported a $284 million loss for the quarter.

Ford reported it sold 348,510 cars and light trucks, an increase of 3.9 percent from the month a year earlier.

For the quarter, Ford reported net income of $104 million, or 6 cents a share.

Analysts are expecting Ford to report higher earnings for the period.

Ford reported today that it earned $3.3 billion, or $12.23 a share of common stock, in 1986.