Ford earns $2.7B USD profit in 2009

Ford earns $2.7B USD profit in 2009

The Ford Motor Company has recorded a fourth quarter profit for 2009 that’s helped the automaker end the last fiscal year with its first yearly profit in about four years. Ford’s 2009 Q4 income was $868 USD million versus a loss of $5.9 billion USD the year prior, the effect on the year as a whole generated $2.7 billion profit compared to a loss of $14.8 billion in 2008.

Now, Ford’s Chief Financial Officer Lewis Booth is forecasting a profitable 2010 and is claiming the company’s outlook in 2011 is “solidly profitable.”

Apparently much of last year’s profit had to do with debt restructuring, but Ford also lowered its structural costs by $5.1 billion, which also beat the company’s own goal of a $4 billion reduction.

Ford also announced that it will raise its first quarter production levels in North America by 20,000 units, from 550,000 to 570,000. This will help the automaker meet rising demand for its cars and trucks and keep inventory stable around the industry standard 60-day supply.

The Ford Motor Company has recorded a fourth quarter profit for 2009 that’s helped the automaker end the last fiscal year with its first yearly profit in about four years. Ford’s 2009 Q4 income was $868 USD million versus a loss of $5.9 billion USD the year prior, the effect on the year as a whole generated $2.7 billion profit compared to a loss of $14.8 billion in 2008.

Now, Ford’s Chief Financial Officer Lewis Booth is forecasting a profitable 2010 and is claiming the company’s outlook in 2011 is “solidly profitable.”

Apparently much of last year’s profit had to do with debt restructuring, but Ford also lowered its structural costs by $5.1 billion, which also beat the company’s own goal of a $4 billion reduction.

Ford also announced that it will raise its first quarter production levels in North America by 20,000 units, from 550,000 to 570,000. This will help the automaker meet rising demand for its cars and trucks and keep inventory stable around the industry standard 60-day supply.

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