$1 Billion in Revenue: ; Ford, the Automaker That Didn't Get Bailed Out, Sees an Upswing

Charleston Gazette › November 03, 2009

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DEARBORN, Mich. - Ford, the only Detroit automaker that didn't seek direct government aid and bankruptcy court, surprised investors with net income of nearly $1 billion in the third quarter and forecast a "solidly profitable" 2011.

The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer. Ford's shares rose 53 cents, or 7.6 percent, to $7.53 in afternoon trading.

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$1 Billion in Revenue: ; Ford, the Automaker That Didn't Get Bailed Out, Sees an Upswing

The latest results signal that Ford's turnaround is on more solid ground. The company lost more than $14.6 billion last year and hasn't posted a full-year profit since 2005. While it made a profit in the second quarter, that was mainly ...

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