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Automotive News -DETROIT -- Ford Motor Co., buoyed by strong U.S. auto sales, said second-quarter net income rose 19 percent to $1.23 billion while lowering its forecast for losses in Europe this year.The company said its North American business set second-quarter and first-half records for pre-tax profits -- $2.3 billion and $4.8 billion respectively. The automaker now expects its losses in Europe to total $1.8 billion, on par with 2012 levels and lower than the $2 billion loss the company previously predicted. Ford's quarterly pretax profit surged 40 percent to $2.56 billion, as revenues rose 15 percent to $38.1 billion. "Our strong second quarter results in every region around the world is another proof point that our One Ford plan is continuing to deliver and is building momentum," CEO Alan Mulally said in a statement.Ford is on track to post its fifth straight profitable year after losing $30.1 billion from 2006 to 2008. Ford's North American pretax operating profit rose 16 percent. Pretax results in the Asia Pacific Africa region swung to a profit of $177 million, a record for any quarter for the region, from a loss of $66 million a year earlier. Europe improves Like other carmakers, Ford continues to struggle with the ongoing recession in Europe. Ford's pretax losses in Europe narrowed to $348 million from $404 million a year ago. Ford revised its U.S. industry volume guidance to the higher end of its previous forecast. Ford previously predicted industrywide sales of 15 million to 16 million units for 2013, but now forecasts the total will be 15.5 million to 16 million. The figures include medium- and heavy-duty trucks. In other upward revisions, Ford says it now expects its full-year pretax profit to be equal to or greater than 2012 and automotive operating margin to be equal to 2012 with automotive operating-related cash flow to be substantially higher than 2012. "It was a very, very strong quarter for Ford Motor Co. right across the entire business," CFO Bob Shanks told reporters today. Shanks said the quarter is a "green shoot" in the company's efforts to get more balanced revenues from other regions outside North America. "We're at the beginning of a phase where we begin to see operations outside North America take on more significance. If you take the operations outside North America, including South America, Europe and Asia Pacific, they're about breakeven," Shanks said. In the first quarter, those operations lost over $600 million. Ford's restructuring steps in Europe have included closing three factories and cutting 6,200 jobs. On a visit to Detroit this month, Ford of Europe President Stephen Odell told reporters the European industry may have hit bottom. "We're not predicting any upturn yet, but there are certainly some good indications," he said. "Our prediction would be that we're at or close to the trough. We don't see any further decline at this point." Ford's North American results marked the fifth time in the last six quarters with a pretax profit of $2 billion or more, and an operating margin of 10 percent or more. Ford's performance has gotten a boost from strong U.S. sales of the Fusion mid-sized sedan and Escape compact crossover. Both received redesigns for the 2013 model year. Unexpectedly strong sales of pickups across the industry have also lifted Ford, whose F-series pickup is the best-selling vehicle in North America. In South America, Ford's operating profit jumped to $151 million from $5 million last year. The company's financial services operations, dominated by Ford Motor Credit, posted pretax operating profit of $451 million, up 1 percent. Comment - Based on monthly sales reports, Ford's sales are growing faster than Government Motors' on a consistent basis.   It is not out of the question that Ford could outsell Government Motors in a monthly sales report this year in the United States and outsell Government Motors for the calendar year of 2014.   This makes the investment in Government Motors to be one of the worst ever.