Ford raises annual pre-tax profit view as supply chain woes ease

(Reuters) – Ford Motor (NYSE:) on Thursday raised its annual pre-tax profit expectation, as improving supply chains helped the automaker produce more pickup trucks and crossover family-SUVs to meet sustained demand from consumers.

An improvement in the overall supply chain has aided automakers to ramp up production and get enough vehicles to dealer lots on time to meet a strong demand for personal mobility.

Better offers and financing options on vehicles has also swayed more consumers to consider purchasing new vehicles in place of used vehicles and leasing options.

Although the decision to shift toward making more electric vehicles has added on to costs for top automakers, as they continue to struggle with labor constraints.

The company now expects pre-tax profit for the year to come in between $11 billion and $12 billion, compared with its prior forecast of $9 billion to $11 billion.