After reporting yesterday that Chrysler recorded a second-quarter profit, Ford is announcing today that they turned a second-quarter profit as well. Given Chrysler’s role as the proverbial Los Angeles Clippers of the auto-industry, it should come as a surprise to no one that Ford also managed to turn a second-quarter profit.

According to The Detroit News, “Ford Motor Co. reported higher-than-expected net income of $2.6 billion for the second quarter, reflecting profits across all of its automotive operations and a big improvement in earnings in its core North American market.”

Ford has been on a roll lately, reporting earnings of $2.1 billion for the first-quarter of 2010.

In fact, according to Automotive News, “The results surpassed an earlier projection by Ford CFO Lewis Booth, who said in April that the company's first-quarter profit of $2.1 billion would be the year's strongest.”

Ford’s profits are a direct result of its competitive lineup of vehicles. Yet, despite improvements to Ford cars, “the big money is still coming from larger vehicles. F-150 sales, for example, are up 25 percent for the quarter, while Super Duty sales are reportedly up 55 percent,” reports Autoblog.

Despite all of this good news, the company continues to be in debt. Although debt at Ford has been reduced by $7 billion, debt is still at a staggering $27.3 billion “from $34.3 billion at the end of the first quarter,” says Automotive News.

However, with new vehicles like the Fiesta and Explorer due in dealerships soon, analysts expect Ford’s debt to continue to be shaved away.

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