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Looks like it was a Billion!! From Morningstar:They did not make "billions."
They posted a third quarter profit in the 900 million range.
This after being pronounced dead by some alarmist pundits, because they had been posting losses in the range of 100-200 million while GM and Chrysler were still posting billions in the red. And still are.
Starting back in 2004, Ford was ahead of the curve and started making hard choices. Thru this they were able to not need any taxpayer bailout funds, and are now looking pretty damn strong for the future.
Ford is enjoying tremendous retail market share gains in North America as a result of its not needing a bailout like GM and Chrysler. The major positive item from this quarter is that the quarterly profit actually came from the auto and financing operations rather than a large one-time gain like early debt retirement as in prior quarters this year. The company reported pretax operating profit of $1.1 billion, its first such profit since the first quarter of 2008. Even North America posted a $357 million pretax operating profit, its first such profit since the first quarter of 2005. Management also raised its outlook for 2011 on a pretax basis excluding special items to "solidly profitable" from "break-even or better."
Ford cut 987 million dollars in expense. Those were jobs. They are not turning a profit.
Looks like it was a Billion!! From Morningstar:They did not make "billions."
They posted a third quarter profit in the 900 million range.
This after being pronounced dead by some alarmist pundits, because they had been posting losses in the range of 100-200 million while GM and Chrysler were still posting billions in the red. And still are.
Starting back in 2004, Ford was ahead of the curve and started making hard choices. Thru this they were able to not need any taxpayer bailout funds, and are now looking pretty damn strong for the future.
Ford is enjoying tremendous retail market share gains in North America as a result of its not needing a bailout like GM and Chrysler. The major positive item from this quarter is that the quarterly profit actually came from the auto and financing operations rather than a large one-time gain like early debt retirement as in prior quarters this year. The company reported pretax operating profit of $1.1 billion, its first such profit since the first quarter of 2008. Even North America posted a $357 million pretax operating profit, its first such profit since the first quarter of 2005. Management also raised its outlook for 2011 on a pretax basis excluding special items to "solidly profitable" from "break-even or better."
That's short of a billion, and miles off of "billions."
You're quite the fruity pebble.Ford cut 987 million dollars in expense. Those were jobs. They are not turning a profit.
No shit.
All the carmakers cut jobs.
All of the gov't run-automakers didn't make a profit. The one major US automaker that did turn a profit didn't hop on the stimulus train, and as legally oppositional to Obamaauto as possible, continued to heavily market PICKUPS & worked on producing gas guzzling sports cars.
It doesn't take a genius to figure out that shit.
....
with no direct bailout......
gm ...not so good...
so the reaction ... the uaw rejects its new contract with ford and threatens strike .....
if i was ford .... i would just leave and focus on foreign markets .....
When is a profit NOT a profit. That is when your actual expenses exceed your actual revenue. That is the case with all three American car companies.Didn't Gm post a 5% increase in Profit which would have been 11 % if they had already dropped such brands as Saturn and Hummer?
No.Didn't Gm post a 5% increase in Profit which would have been 11 % if they had already dropped such brands as Saturn and Hummer?
