Archive for the ‘Car Industry News’ Category
Ford posts best quarterly profit in 6 years
In a sign that the American auto industry is starting to turn around Ford posted its fourth straight quarterly operating profit and it’s best in over 6 years.
This is good news for the automaker and it’s investors who suffered big losses just a year ago during the height recession.
“We are ahead of where we thought we would be despite the still-challenging business conditions,” said Ford President and CEO Alan Mulally in a statement. “We remain on track to deliver solid profits and positive automotive operating-related cash flow for 2010, and we expect even better financial results in 2011.”
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