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.
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