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Ford financial woes ease as profits boost Wall Street

By Matt Brogan |

It seems the pressure of the Global Financial Crisis may be easing, at least where Ford Motor Company is concerned.

The New York Times have reported yesterday that Wall Street stocks rose in hesitant trade the night prior after a surprise profit reported by Ford boosted market sentiment.

Ford’s third-quarter profit of US$997 million (AUD$1,103 million), and comments that it was on track to become “solidly profitable”, led Mr Douglas McIntyre of 24/7 Wall Street magazine to refer to the United States’ number two manufacturer as “a little miracle.”

“Almost no one thought Ford could make money in North America — except Ford,” said Mr McIntyre.

Ford rose 8.29 per cent among key stocks after the announcement yesterday surprised analysts expecting another loss from the manufacturer.


 
  • crouchy

    Wow that Taurus looks VERY Falconish!!!

    • blah

      Get used to it

    • Steve

      Here’s a tip, read the words, don’t just look at the pretty (questionable in this case) pictures.

  • Toyota Guru

    Very surprising for Ford. They’re still in a massive amount of debt though…

  • Safety Frist

    A very good result, given that so many others have recorded a massive downturn in profit, (read Suzuki, Mitsubishi, Toyota, Mazda, VWAG etc) having a a turn around like this in twelve months is nothing short of brilliant. Sure they may still be carrying debt, (so is every other manufacturer in the world BTW) but the result validate the decisions made.
    For those that said it was suicidal for Ford to ditch Mazda, when you look at this years results you can see that Mazda are not as healthy without the financial prop up FoMoCo was providing (pity but true). Same can be said for all the brands sold off.
    Again I say well done to Mr Allan Mullaly and his team, given that 18 months, two years ago, so many “Industry Experts” had Ford pushing up daisies by now this news points to very strong future. Especially given they have the number one seller in so many markets around the globe.

  • Mr Happy

    Ford of America still makes rubbish cars. If only they had the Falcon over there.

    • John S

      totally agree with the fomoco nth american product – they are getting better design wise, but thats because they’re at where ford aus about 10 years ago! realising that euro styling is far superior to yankee doodle boring!

    • Safety Frist

      But they are in line with what the American public want, as born out by the sales charts. I mean F series is still the number one selling vehicle in the states. Fusion, Taurus, Explorer, Escape are all seliing well and their quality is rated as equal to or better than their Japanese

    • Clueless

      In terms of quality Ford in the USA is now ahead of Toyota and Honda, virtually No 1, according to JD Powers.
      A Falcon in North America would be a winner!!!!

      The new Fiesta is coming to North America, along with the next generation Focus and Mondeo

  • Baddass

    Does that say GTHO on the side?

    • Safety Frist

      No it actually says SHO
      GTHO Will not happen………..

  • Andrew M

    Toyota Guru,
    just about every business would be in debt, but being in debt doesnt mean you cant make a profit.

    I owe money on my motorvehicle (therefore I am in Debt) but my business still turns a reasonable profit………

    And for the record Ford actually went on a spending spree throwing a fair bit of their cash reserve at lowering debt.
    Im not sure what their actual debt is at the moment though, but it is irrelevant when we are talking profit

  • http://www.carz.com/blog/ CarZ

    Hats off to Ford for being one of the American Auto Giants for doing what they needed to do to not take the bail out money. It’s paying off and will continue to do so in consumer confidence of their products.

  • adam (aka mada)

    Fords CEO Alan M is worth every penny he has been paid, not surprising as he pulled Boeing out of the doldrums also.

    Mark Fields, Derek Kuzak and Lewis Booth also deserve Kudos, amazing what happens when a management team focus and get to work, all within 3 years yet GM’s former CEO Rick W, did half as much in 8 years!

    Me thinks Ford will be one of the top auto makers once again in the next couple of years.