Ford Makes First Annual Profit Since 2005

Cheryl Phillips's picture

For the first time in four years, the Ford Motor Company announced that it made $2.7 billion in 2009. The company stated that it would be profitable going forward in 2010 as well. Ford attributes it's profit in 2009 to cost-cutting and debt reduction, as well as sales of popular cars such as the Ford Fusion and Escape.

Ford's net income of 86 cents per share increased from the year before. In 2008 Ford lost a record $14.6 billion.

Ford has been in the news a lot in 2010 and not just for its positive cash flow. The Ford Fusion Hybrid was selected as the 2010 North American Car of the Year and the Ford Transit Connect as the 2010 North American Truck of the Year.

In addition, the 2010 Ford Taurus, a strong seller for Ford since 1986, earned the U.S. government's top five-star ratings for driver and passenger in front and side crash tests.

Ford is the only large U.S. automaker not to reorganize under a government-supported bankruptcy in 2009. For the fourth quarter, Ford posted a profit of $868 million.

Written by Cheryl Phillips
HULIQ.com

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