2013 Audi A3

Ford boasts profitability by 2011

 
3 1,014 views May 14, 2009

Ford execs have reason to smile, with analysts also predicting profitability in less than two years

Ford execs have reason to smile, with analysts also predicting profitability in less than two years

Enlarge Photo
Of the Detroit 3 carmakers, Ford is easily the strongest and compared with its global competition the Blue Oval isn’t looking too shabby either – impressive considering U.S. new car sales are at their lowest level in decades. Furthermore, Ford insists it will be able to reach profitability as early as 2011 without the need for any government assistance.

"We are confident that we will not only survive this downturn, but that we will emerge as a lean, globally integrated company poised for long-term profitable growth," Ford CEO Alan Mulally said, adding that the company was on track to be at or above break-even in 2011 excluding special items.

That was the claim laid out to shareholders at the company’s annual meeting. Shareholders were also requested to approve Ford’s funding plan for a healthcare trust for UAW retirees, as well as a range of changes to voting rules, reports Automotive News.

Ford recorded a net loss of $14.7 billion in 2008 and for the first three months of this year the company has recorded a net loss of $1.43 billion. However, with its recent debt restructuring, the union agreements, and share issues, analysts predict Ford will be able to turn around its past performances and return to profitability in the near future. Incidentally, Ford hasn’t had an annual profit since 2005.



Tags:
Posted in:
 
Contribute
Send us a tip Comment Contact the editor
Follow Us

 

Have an opinion?Join the conversation!

  • Posting indicates you have read this site's Privacy Policy and Terms of Use
  • Notify me when there are more comments
Comments (3)

  1. ma_NoNameDenton avatar NoNameDenton Posted: 5/14/2009 7:18pm PDT

    Might actually make a profit by with the Fiesta, the Euro-based Focus, the new Fusion and not such a truck heavy portfolio
     
    Post Reply
    Vote
    Bad stuff?

  2. ma_DavidSilverM3 avatar DavidSilverM3 Posted: 5/15/2009 6:31am PDT

    I'm really impressed with Ford. They didn't use tax payers dollars and they employed the correct management/strategies to correct the company. Now if GM could get a clue the US auto industry might have a fighting chance.
     
    Post Reply
    Vote
    Bad stuff?

  3. ma_NoNameDenton avatar NoNameDenton Posted: 5/15/2009 12:46pm PDT

    I'm really impressed with Ford. They didn't use tax payers dollars and they employed the correct management/strategies to correct the company. Now if GM could get a clue the US auto industry might have a fighting chance.

    I doubt it, GM seems bound and determined to fail
     
    Post Reply
    Vote
    Bad stuff?

 

Have an opinion?Join the conversation!

Connect with Facebook

Motor Authority. Now with your friends.

Discover stories your friends read.
Share stories more easily.
You control what you share.
Learn more

Research New Cars

Go!


More from High Gear Media

 
 
MotorAuthority
  • Follow Us
  • Twiiter
  • Facebook
 
 
© 2011 MotorAuthority. All Rights Reserved. MotorAuthority is published by High Gear Media. Stock photography by Homestar, LLC. Send us feedback.