Ford Motor Co. has seemingly shifted out of crisis mode and is now reporting a profit of $2.7 billion for 2009, a considerable success given the state of the U.S. auto industry and the sluggish economy. —JCL
The Los Angeles Times:
Ford Motor Co. posted a profit of $2.7 billion for the year, a dramatic turnaround for the company, which weathered one of the worst years in the history of the automotive industry in comparatively good health.
“While we still face significant business environment challenges ahead, 2009 was a pivotal year for Ford and the strongest proof yet” of the success of the company’s effort to forge “a path toward profitable growth by working together as one team, leveraging our global scale,” Alan Mulally, Ford’s chief executive, said today.
In the U.S., sales of Ford brands in the fourth quarter rose 13% from the same period a year earlier. The company grabbed 15.3% of the U.S. auto market, its first full-year gain since 1995.
“In every part of the world, we are providing customers with great products, building a stronger business and contributing to a better world,” Mulally said. “Our progress has helped us gain market share in most of our major markets.”