Ford has reported a third quarter profit of $997 million compared to the $161 million net loss for the same period last year. The announcement represents Ford's first operating profit in nearly two years.
"Our third-quarter results clearly show that Ford is making tremendous progress despite the prolonged slump in the global economy," Ford CEO Alan Mulally stated. "Our solid product lineup is leading the way in all markets. While we still face a challenging road ahead, our One Ford transformation plan is working and our underlying business continues to grow stronger."
Ford expects its positive cash flow to continue into the fourth quarter.
Comments (11)
Good for them! It will probably only get better as they have more new models coming out in the year to come.
Posted by Jeremy | November 2, 2009 8:52 AM
Posted on November 2, 2009 08:52
Great to hear! This is big news, I wonder why I'm not hearing anything about this on the news.......
I guess it could make the govt. look like a horse's rear end for giving GM and Chrysler billions AND bankrupting them only to have them continue to lose $$$.
Posted by Vince | November 2, 2009 9:10 AM
Posted on November 2, 2009 09:10
Should be interesting when their UAW contract is up. They are not real happy with Ford right now... Also, how much of this is due to the C4C program? 4th quarter will tell better if they are really posting a profit or its just a one time spur thanks to C4C. Sales in the 4th are also generally lower then in the 3rd. When they post profit for the year, then I will say good job.
Posted by Avatar | November 2, 2009 9:52 AM
Posted on November 2, 2009 09:52
Get real people, this is just a result of the Cash for Clunkers deal. They'll probably barely be in the black next quarter.
Posted by Noya | November 2, 2009 11:59 AM
Posted on November 2, 2009 11:59
noya why dont you go shove your prejudice against the domestics up your a-s-s!? do you even live is the United States?! sure, they aren't going to come out of the year with a big profit, but look at everyone else right now! at least Ford is sticking to a plan that is working. their goal was to be profitable by 2011! so give it time, i think they are doing an awesome job!! keep it up Ford!!!
Posted by Phil | November 2, 2009 1:10 PM
Posted on November 2, 2009 13:10
Don't get me wrong, I love Ford and my last 3 vehicles were Fords... but what is up with their Grille designs? Like Acura, they used to have a great face and now their front ends are butt ugly. Am I the only one who hates the new F250 grille? Looks almost as bad as the Acura smiley face grills. They had a great grille in their Blue Oval trademark from the 90s up until this current generation of cars. They don't even have a common theme... The Gillette razor theme for some of the cars, the quilted box grille on the new Taurus and whatever that picture frame monstrosity is on the trucks. Ever notice how the classic cars of Europe never leave their trademark grill and they almost always get points for being good looking cars.... BMW, MB, Alfa all have a trademark grille and never change the basics of it through time. Pontiac did a pretty good job of this until they were killed off. There's something to be said for continuety.......
Posted by remyj | November 2, 2009 2:11 PM
Posted on November 2, 2009 14:11
Don't listen to Noya he is Anti U.S. Automobile, hate monger. If Ford was a European brand he'd be all prasing Ford right now.
Posted by SteelCity1981 | November 2, 2009 2:21 PM
Posted on November 2, 2009 14:21
@ Phil:
I always get the feeling Noya is from India...that, or some obscure South-Asian country.
Anyhow, I'm truly, very glad for Ford. Makes me wish I should have purchased Ford stock. I like how Ford finally wised up and decided to import its European models, which everyone knows are a lot better than its American models. Now, I want a Ford Falcon XR8, dammit! But I suppose the SHO will assuage my appetite.
Posted by lotsofTRidiots | November 2, 2009 3:29 PM
Posted on November 2, 2009 15:29
Way to go Ford, keep it up.
@Noya
Shut the fuck up flag burner.
Posted by 426Hemi | November 3, 2009 12:27 PM
Posted on November 3, 2009 12:27
Doesn't everyone want a Mad Max machine?
Hell I'll take just about any car that has a blower with a push button on the shifter...drool.
Posted by Brian | November 3, 2009 2:45 PM
Posted on November 3, 2009 14:45
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@ Phil:
I always get the feeling Noya is from India...that, or some obscure South-Asian country.
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WTF is that supposed to mean? I'm indian - and I drove a 07 Mustang - a couple other people (indians) I know drive mustangs/fords.. I don't know about him - but how about getting rid of your 'prejudice'.. 'obscure countries' - u ignorant fool..
Posted by 54 | November 8, 2009 10:21 PM
Posted on November 8, 2009 22:21