Ford Makes First Profit in Four Years
January 29, 2010 /EIN PRESSWIRE/ For Ford, the turnaround is now. The automaker has posted a $2.7 billion profit for 2009 thanks to its past labor restructuring, popular new models and the collapse of GM and Chrysler.
Compared to the other US automakers, Ford was ahead of the trend in mid-size cars and small SUVs and has found success in the competitive European market. Ford’s own financing company also helped boost profits in a tight consumer-lending market.
Although profit was up for Ford, the company saw a 14 percent decline in revenue in 2009. Because of its dealings with the auto unions, Ford sees higher profits on each car sold. The company now turns its focus to its debt, as it mortgaged almost all of its assets before the economic downturn.
Read more about this story at Automotive Industry Today:
Latest Ford news – http://automotive.einnews.com/news/ford-motor-company
Latest CEO Alan Mulally news – http://automotive.einnews.com/news/auto-alan-mulally
Latest Ford Bailout news – http://automotive.einnews.com/news/bailout-ford
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