November 02, 2009

$1 Fucking Billion in Profit



Ford, the only Detroit automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of nearly $1 billion in the third quarter and forecast a "solidly profitable" 2011.

The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer. Ford's shares rose 58 cents, or 8.3 percent, to $7.58 in pre-market trading.

And it wasn't just overseas production in that profit.

Its key North American car and truck division posted a pretax profit of $357 million, the company's first quarter in the black since early 2005. Ford cited higher pricing, lower material costs and increased market share for the improvement.

That means that cars and trucks in the U.S. are moving out of the lots and into customers hands.

I imagine Ford would like to send a big shoutout to Obama

"Fuck you, your pay czar, your car czar and your government loans"

Posted by Quality Weenie at November 2, 2009 09:32 AM

NET!? Awesome!!! Go, FORD!!! :-)

Posted by: Pam at November 2, 2009 10:08 AM

I'll take the billion!

Posted by: Hardy at November 4, 2009 09:58 AM