Ford Makes First Profit in Four Years
Ford Makes First Profit in Four Years
January 29, 2010 /EIN PRESSWIRE/ For Ford, the turnaround is now. The automaker has posted a $2.7 billion profit for 2009 thanks to its past labor restructuring, popular new models and the collapse of GM and Chrysler.
Compared to the other US automakers, Ford was ahead of the trend in mid-size cars and small SUVs and has found success in the competitive European market. Ford's own financing company also helped boost profits in a tight consumer-lending market.
Although profit was up for Ford, the company saw a 14 percent decline in revenue in 2009. Because of its dealings with the auto unions, Ford sees higher profits on each car sold. The company now turns its focus to its debt, as it mortgaged almost all of its assets before the economic downturn.
Read more about this story at Automotive Industry Today:
Latest Ford news - http://automotive.einnews.com/news/ford-motor-company
Latest CEO Alan Mulally news - http://automotive.einnews.com/news/auto-alan-mulally
Latest Ford Bailout news - http://automotive.einnews.com/news/bailout-ford
Located at http://automotive.einnews.com, Automotive Industry Today is a service of EIN News, an industry leader in news monitoring for business professionals and analysts. Using a combination of proprietary search technology and human editing, EIN News delivers to its members the automotive news from around the world, saving them valuable time they'd spend searching for information. New users to Automotive Industry Today can enjoy a no-obligation, one-week free trial.
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January 29, 2010 /EIN PRESSWIRE/ For Ford, the turnaround is now. The automaker has posted a $2.7 billion profit for 2009 thanks to its past labor restructuring, popular new models and the collapse of GM and Chrysler.
Compared to the other US automakers, Ford was ahead of the trend in mid-size cars and small SUVs and has found success in the competitive European market. Ford's own financing company also helped boost profits in a tight consumer-lending market.
Although profit was up for Ford, the company saw a 14 percent decline in revenue in 2009. Because of its dealings with the auto unions, Ford sees higher profits on each car sold. The company now turns its focus to its debt, as it mortgaged almost all of its assets before the economic downturn.
Read more about this story at Automotive Industry Today:
Latest Ford news - http://automotive.einnews.com/news/ford-motor-company
Latest CEO Alan Mulally news - http://automotive.einnews.com/news/auto-alan-mulally
Latest Ford Bailout news - http://automotive.einnews.com/news/bailout-ford
Located at http://automotive.einnews.com, Automotive Industry Today is a service of EIN News, an industry leader in news monitoring for business professionals and analysts. Using a combination of proprietary search technology and human editing, EIN News delivers to its members the automotive news from around the world, saving them valuable time they'd spend searching for information. New users to Automotive Industry Today can enjoy a no-obligation, one-week free trial.
About EIN Presswire
The EIN Presswire press release distribution service is a news-syndication solution that distributes news to more than 10 million visitors annually at EIN News and millions more through its press release distribution partners. A news source for leading journalists, decision-makers and industry professionals worldwide, EIN Presswire targets press releases to a wide array of worldwide business professionals in more than 80 different industries. EIN Presswire also offers affiliate network opportunities and news distribution to tens of thousands of news subscribers daily. Read the newest business news at http://www.einpresswire.com and the latest world news in more than 80 different industries at http://www.einnews.com.
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