Ford 2010 profit highest in a decade as sales rise

[impik]

ARBORN, Mich. — Ford earned its largest profit in more than a decade in 2010, as demand for its cars and trucks rose and it benefited from years of restructuring.

It was the company's best performance since 1999 and the first time it has earned back-to-back annual profits in six years.

Ford earned $6.6 billion, or $1.66 per share. That's more than double its 2009 profit of $2.7 billion, or 86 cents per share.

Ford's U.S. sales jumped 20 percent last year — double the rate of the industry — as an improving economy spurred demand for the company's F-Series pickups and other vehicles. Ford became the top-selling brand in the U.S. last year, beating out Chevrolet and Toyota for the first time since 2003

http://www.msnbc.msn.com/id/41309317/ns/business-autos/

[dkf]

1. It looks like American cars are beginning to compete very nicely

On innovation too. Good job.

Our American car industry is definitely worth saving. Ford was in better shape than GM but they also benefited as their suppliers are still around thanks to we the people.

[GSLevel9]

2. they could build an overpriced electric car and flush all their profits. nt

[edsmeal]

3. No doubt Obama saved the U.S. auto industry.

Yet the dumb asses in those states give him no credit.

[Synicus Maximus]

4. I forgot how much money Ford got from the bailout

[GSLevel9]

5. that would be NADA

In 2009, Ford Motor Company weathered one of the worst recessions in history and emerged on the other side free of government debt and with an innovative positioning that places it among the developers of new green technology for the automobile.

[boppers]

10. US Auto industry?

http://en.wikipedia.org/wiki/List_of_Ford_factories

They're a multi-national.

Oh, and Ford had larger cash reserves, and global factories, so they didn't have to sweat "U.S. auto industry" issues as much (and didn't take a cash float). Compare/Contrast with GM:
http://en.wikipedia.org/wiki/List_of_GM_factories

[golfguru]

6. and Ford received NO bailouts

In other words Ford management is smarter than GM & Chrysler.

[Rosa Luxemburg]

7. Let's start to export more!

[amandabeech]

8. Ford needs to bring the Fusion production to the U.S. and close its lines in Mexico.

That's right, the popular, and righfully so, Ford Fusion is made in Mexico.

In fact, a brake parts plant in my home area in Michigan is closing and moving to Mexico to be closer to the Ford assembly plant there. Only the plant is moving. The workers, of course, are not free to follow their jobs.

So, nice for the stockholders and Mexico, but not so nice for the folks making parts for the Fusion.

I just hope that no U.S. taxpayer money is being used to protect Ford and its suppliers in Mexico from any current or future Mexican internal problems.

[boppers]

9. Would the workers actually be willing to move to Mexico?

Would they be willing to work under that wage standard, and live with that standard of living?

Minimum wage for Mexico:
Assuming Zona A, it's 47.46 Mexican pesos = $3.9210 US dollars.

...Per day.