Why Ford's Profit in China Fell 34% in the Second Quarter

Ford Motor Company (NYSE: F) said this past week that it earned $195 million in equity income from its joint ventures in China in the second quarter.

That's not bad, but it's not great. A year ago, in the second quarter of 2016, Ford earned $296 million from its Chinese joint ventures -- and its profit margin was a lot better.

Ford's China profit fell even though its sales rose during the quarter. So what's the story?

Source: Fool.com