• Nov 2nd 2009 at 10:55AM
  • 66

Surprising news comes courtesy of Ford this morning in the form of an unexpectedly good third quarter report. The Blue Oval posted $997 million in positive net income over the third quarter, which represents its first operating profit in over a year. Even better news is that Ford's success was driven in part by actual product sales, with market share increasing in North America, South America and Europe.

Ford finished the third quarter with $23.8 billion in Automotive gross cash, which is $2.8 billion better than how it finished the previous quarter. Ford Credit, the financial arm of the automaker's operations, also posted relatively good numbers in the third quarter of 2009 with an after-tax profit of $427 million. Though Ford is selling fewer vehicles overall from the heyday of the early 2000s, its off-lease models aren't depreciating as rapidly as before and are selling for higher transaction prices at auction.

While making nearly a billion dollars in the third quarter of 2009 is welcome news, the automaker still has a tough road ahead in the coming years. In recognition of this fact, Ford isn't predicting solid profitability and consistently positive operating cash flow until 2011. For all the mind-numbing details, hit the jump for the full press release from Ford.

[Source: Ford]



  • Reported net income of $997 million, or 29 cents per share, an improvement of $1.2 billion from the third quarter of 2008. Pre-tax operating profit totaled $1.1 billion, an improvement of $3.9 billion from a year ago. It is Ford's first pre-tax operating profit since the first quarter of 2008
  • Ford North America posted a pre-tax operating profit of $357 million, its first profitable quarter since the first quarter of 2005
  • Reduced Automotive structural costs by $1 billion, bringing the total reduction to $4.6 billion through the first nine months of 2009, and exceeding the full-year target of $4 billion
  • A strong product lineup drove market share gains in North America, South America and Europe as well as continued improvements in transaction prices and margins
  • Ended the quarter with $23.8 billion of Automotive gross cash, up $2.8 billion from the end of second quarter 2009++
  • Achieved positive Automotive operating-related cash flow of $1.3 billion for the third quarter, a $2.3 billion improvement over the second quarter
  • Ford Credit reported a pre-tax operating profit of $677 million, a $516 million improvement from a year ago
  • Ford now expects to be solidly profitable in 2011, excluding special items, with positive operating-related cash flow

Financial Results Summary

Third Quarter

First Nine Months


O/(U) 2008


O/(U) 2008

Wholesales (000)+





Revenue (Bils.) +

$ 30.9

$ (0.8)

$ 82.9

$ (26.2)

Operating Results +

Automotive Results (Mils.)

$ 446

$ 3,385

$ (2,493)

$ 523

Financial Services (Mils.)





Pre-Tax Results (Mils.)

$ 1,107

$ 3,887

$ (1,299)

$ 1,828

After-Tax Results (Mils.)+++

$ 873

$ 3,882

$ (1,557)

$ 2,381

Earnings Per Share +++

$ 0.26

$ 1.58

$ (0.54)

$ 1.22

Special Items Pre-Tax (Mils.)

$ 108

$ (2,099)

$ 3,265

$ 9,484

Net Income/(Loss) Attributable to Ford

After-Tax Results (Mils.)

$ 997

$ 1,158

$ 1,831

$ 10,619

Earnings Per Share

$ 0.29

$ 0.36

$ 0.61

$ 4.55

Automotive Gross Cash (Bils.) ++

$ 23.8

$ 4.9

$ 23.8

$ 4.9

DEARBORN, Mich., Nov. 2, 2009 – Ford Motor Company [NYSE: F] today reported net income of $997 million, or 29 cents per share, in the third quarter as strong new products, structural cost reductions and improved results at Ford Credit lifted the company's results despite continued weak global economic conditions. This is a $1.2 billion improvement compared with the same period last year.

Excluding special items, Ford posted pre-tax operating profits totaling $1.1 billion, an improvement of $3.9 billion from a year ago. This marks the company's first operating profit since the first quarter of 2008. On an after-tax basis, excluding special items, Ford posted an operating profit of $873 million in the third quarter, or 26 cents per share, compared with a loss of $3 billion, or $1.32 per share, a year ago.

Ford's North American operations posted a pre-tax operating profit of $357 million, its first quarterly profit since the first quarter of 2005. Ford South America, Ford Europe and Ford Asia Pacific Africa also posted pre-tax operating profits in the third quarter.

"Our third quarter results clearly show that Ford is making tremendous progress despite the prolonged slump in the global economy," said Ford President and CEO Alan Mulally. "Our solid product lineup is leading the way in all markets. While we still face a challenging road ahead, our One Ford transformation plan is working and our underlying business continues to grow stronger."

Ford's third quarter revenue was $30.9 billion, down $800 million from the same period a year ago. Automotive revenue is up $100 million from a year ago. This improvement was offset by a decrease in Ford Credit's revenue reflecting a decline in receivables.

Ford reduced its Automotive structural costs by $1 billion in the quarter, largely driven by lower manufacturing and engineering costs, which included benefits from improved productivity, personnel reduction actions primarily in North America and Europe, and progress on implementing its common global platforms and product development processes. Through the first nine months, Ford has achieved $4.6 billion in Automotive structural cost reductions, exceeding its full-year 2009 target of $4 billion.

Ford finished the third quarter with $23.8 billion in Automotive gross cash, compared with $21 billion at the end of the second quarter of 2009. Automotive operating-related cash flow was $1.3 billion positive during the third quarter of 2009, an improvement of $2.3 billion from the second quarter 2009. Automotive operating-related cash flow was $3.4 billion negative during the first nine months.

"The Ford team delivered another solid quarter of results with strong contributions from all our business regions," said Lewis Booth, Ford executive vice president and chief financial officer. "Positive cash flow, a stronger balance sheet and a third quarter operating profit are evidence that Ford is meeting the global economic challenges."

The following discussion of third quarter highlights and results are on a pre-tax basis and exclude special items. See tables following "Safe Harbor/Risk Factors" for the nature and amount of these special items and any necessary reconciliation to U.S. GAAP. Discussion of Automotive overall operating cost changes is at constant volume, mix, and exchange, and excludes special items; discussion of Automotive structural cost changes is at constant exchange and excludes special items.


  • Ford again increased year-over-year market share in North America, South America, and Europe and continued to achieve improvements in transaction prices and margins. Ford maintained market share in the Asia Pacific Africa region and Volvo gained market share. Other sales highlights:
    • In the U.S., third quarter market share increased 2.2 percentage points compared to last year as the Ford, Lincoln and Mercury brands all posted sales gains
    • Ford Europe's market share was 9.2 percent for the quarter, up 0.6 points from last year and the highest third-quarter level in 10 years. Market share was 10.1 percent in September, the highest monthly share in eight years
    • Record growth in China continued as Ford third quarter sales jumped 63 percent
    • At the end of the third quarter, worldwide sales of the new Ford Fiesta reached 470,000 units since its launch last fall. The No. 2 best-selling car in Europe posted its highest September sales since 1994. In September, Fiesta also had its best sales month ever in China. Fiesta arrives in the U.S. market in 2010
    • Began selling the new Ford Taurus and Transit Connect in North America. Taurus sales in September were up 60 percent from a year ago
    • The Ford Focus and Ford Escape were among the top new vehicles purchased in the U.S. government's "Cash for Clunkers" program
    • Ford's U.S. hybrid sales have risen 73 percent this year compared to a 14 percent decline in U.S. hybrid industry sales. More than 60 percent of Ford Fusion hybrid sales have come from non-Ford owners
  • Began production of the Ford Transit Connect small commercial van at the new manufacturing plant in Craiova, Romania
  • Announced investment of $500 million at Ford India's Chennai assembly plant to build the new Ford Figo, a small car targeted at the heart of the Indian market, debuting in 2010
  • Announced a new $490 million assembly plant in Chongqing, China, which will be completed by 2012, and will produce the Ford Focus for the Chinese market
  • Ford, Lincoln and Mercury brand vehicles in the U.S. had the fewest number of "things gone wrong" among all automakers, according to the third quarter GQRS study of new vehicle quality
  • Received $886 million in loans from the U.S. Department of Energy for development of more fuel-efficient vehicles. Ford has been approved for up to $5.9 billion in loans in support of projected expenditures through mid-2012
  • Raised $565 million in new equity as Ford completed its previously-announced plan to issue up to $1 billion of equity
  • Ford Credit completed $10 billion in funding in the third quarter, including $2.8 billion unsecured, and now has essentially completed its full-year funding plan
  • The Ford Taurus and Lincoln MKT both earned a "Top Safety Pick" from the Insurance Institute for Highway Safety. Ford Motor Company continues to have more IIHS "Top Safety Pick" ratings than any other automaker
  • Unveiled the all-new Ford C-MAX at the Frankfurt Motor Show. The C-MAX and the Grand C-MAX will debut in Europe in 2010, and the Grand C-MAX debuts in the U.S. in 2011. The new global C-car platform will underpin up to 10 models and more than 2 million units annually by 2012
  • Announced that Ford's 1.6-liter and 2.0-liter four-cylinder EcoBoost engines will make their debut in 2010 across Europe, North America, and Australia
  • Unveiled the new Ford Figo to compete in India's small car segment beginning in 2010
  • Launched the new Ford Fiesta in Taiwan and continued the successful rollout of the Ford Focus and Ford Everest SUV in additional Asian markets
  • Revealed the new 2011 Ford F-Series Super Duty and two new powertrains developed by Ford – a 6.7-liter V8 diesel engine and a 6.2-liter V8 gasoline engine
  • Began selling the 2010 Ford F-150 SVT Raptor, an off-road performance truck, which captured the "2009 Pickup Truck of Texas" award from the Texas Auto Writers. The Ford F-150 won the overall "Truck of Texas" award, the seventh straight year a Ford truck has earned the honor


Automotive Sector*

Third Quarter

First Nine Months


O/(U) 2008


O/(U) 2008

Wholesales (000)





Revenue (Bils.)

$ 27.9

$ 0.1

$ 73.3

$ (23.6)

Pre-Tax Results (Mils.)

$ 446

$ 3,385

$ (2,493)

$ 523

*excludes special items

For the third quarter of 2009, Ford's Automotive sector reported a pre-tax operating profit of $446 million, compared with a pre-tax loss of $2.9 billion a year ago. The improvement primarily reflects favorable net pricing, structural cost reductions, lower material costs and improved market share, offset partially by unfavorable exchange and lower industry volumes.

Worldwide Automotive revenue in the third quarter was $27.9 billion, up $100 million from a year ago. The increase is more than explained by favorable net pricing and higher volumes, primarily in North America, offset partially by unfavorable exchange. Total vehicle wholesales in the third quarter were 1,232,000, compared with 1,175,000 units a year ago.

Automotive structural cost reductions in the third quarter totaled $1 billion, including $500 million in North America. Manufacturing and engineering costs were $500 million lower, largely reflecting the continued benefits of improved productivity, personnel reduction actions primarily in North America and Europe, and progress on the implementation of Ford's common global platforms and product development processes. Pension and retiree health care costs were lower, reflecting the effect of the UAW Retiree Health Care VEBA agreement. Overall, Ford reduced Automotive structural costs by $4.6 billion during the first nine months.

Net pricing was $1.9 billion favorable, primarily explained by higher U.S. net pricing, reflecting the success of new products, a continued disciplined approach on incentives and selective top-line pricing.

North America: For the third quarter, Ford North America reported a pre-tax operating profit of $357 million, compared with a loss of $2.6 billion a year ago. The improvement was primarily explained by favorable net pricing, lower material costs, structural cost reductions, favorable series mix and improved market share, offset partially by unfavorable exchange and lower U.S. industry volume. Third quarter revenue was $13.7 billion, up from $10.8 billion a year ago.

South America: For the third quarter, Ford South America reported a pre-tax operating profit of $247 million, compared with a profit of $480 million a year ago. The decrease is more than explained by unfavorable exchange, primarily in Brazil and Argentina. Third quarter revenue was $2.1 billion, down from $2.7 billion a year ago.

Europe: For the third quarter, Ford Europe reported a pre-tax operating profit of $193 million, compared with a profit of $69 million a year ago. The improvement was more than explained by structural cost reductions, lower material costs and favorable net pricing, offset partially by unfavorable volume and mix and exchange. Third quarter revenue was $7.6 billion, down from $9.7 billion a year ago.

Asia Pacific Africa: For the third quarter, Ford Asia Pacific Africa reported a pre-tax operating profit of $27 million, compared with a profit of $4 million a year ago. The increase primarily reflects favorable net pricing, China joint venture profits, and cost reductions, offset partially by unfavorable exchange. Third quarter revenue was $1.5 billion, down from $1.7 billion a year ago.

Volvo: Volvo continues to be reported as an ongoing operation. The effects of "held-for-sale" accounting-related adjustments are reported as special items. For the third quarter, Volvo reported a pre-tax operating loss of $135 million, compared with a loss of $458 million a year ago. The improvement is more than explained by continued progress on cost reductions, favorable exchange, and higher volume and mix. Third quarter revenue was $3 billion, up from $2.9 billion a year ago. Also, as announced last week, Ford confirmed Geely as the preferred bidder in the ongoing discussions concerning the possible sale of Volvo Cars.

Other Automotive: Other Automotive, which consists primarily of interest and financing-related costs, was a third quarter pre-tax loss of $243 million.


Financial Services Sector*

Third Quarter

First Nine Months

(in millions)


O/(U) 2008


O/(U) 2008

Ford Credit Pre-Tax Results

$ 677

$ 516

$ 1,287

$ 1,388

Other Financial Services





Financial Services Pre-Tax Results

$ 661

$ 502

$ 1,194

$ 1,305

*excludes special items

For the third quarter, the Financial Services sector reported a pre-tax operating profit of $661 million, compared with a profit of $159 million a year ago.

Ford Motor Credit Company: For the third quarter, Ford Credit reported a pre-tax operating profit of $677 million, compared with a pre-tax profit of $161 million a year ago. The increase primarily reflected lower residual losses due to higher auction values, and lower provisions for credit losses, offset partially by lower volume.

Other Financial Services: For the third quarter, Other Financial Services reported a pre-tax operating loss of $16 million in the third quarter, compared with a loss of $2 million a year ago.

Despite the severe global downturn, Ford said it continues to make progress on all four pillars of its plan:

  • Aggressively restructure to operate profitably at the current demand and changing model mix
  • Accelerate the development of new products that customers want and value
  • Finance the plan and improve the balance sheet
  • Work together effectively as one team, leveraging Ford's global assets

Ford said it remains on track to achieve or exceed all of its 2009 financial targets and almost all of its operational metrics. Ford will also continue to pursue actions to improve its balance sheet.

Ford expects full-year 2009 U.S. industry sales will be about 10.6 million units, consistent with the guidance previously communicated by the company. In Europe, Ford now expects that full-year industry sales will be about 15.7 million units, which is higher than its previous guidance.

Ford expects fourth quarter 2009 production to be up compared with year-ago levels and third quarter 2009 production. This increase is to return to planned dealer stock levels and match production with market demand for Ford products.

Ford now expects full-year Automotive structural cost reductions of about $5 billion, exceeding its full-year 2009 target. These costs were reduced by $4.6 billion through the first nine months. Going forward, Ford expects structural costs to be relatively stable as the company has largely completed its significant restructuring actions over the past four years.

The company said it expects full-year U.S. and Europe market share to remain at about the same levels achieved during the first nine months.

Ford expects Automotive operating-related cash flow to be positive in the fourth quarter, based on the company's present planning assumptions.

Ford now expects capital spending of about $5 billion, or slightly less. Capital expenditures through the first nine months were $3.4 billion; higher projected fourth quarter spending reflects the timing of Ford's product launches as the company maintains its product plans.

Ford Credit expects to be profitable in the fourth quarter and for the full-year 2009. Next year, Ford Credit expects reduced profits based on lower average receivables and the non-recurrence of favorable 2009 factors.

Based on its recent performance and present planning assumptions, Ford is changing its full-year 2011 guidance for total company and North American Automotive operations from being "breakeven or better" to "solidly profitable" on a pre-tax basis excluding special items, with positive Automotive operating-related cash flow.

While the company has confidence that the global economy will be improving by 2011, the near-term growth outlook remains rather uncertain. Looking at 2010, there is a high likelihood of a substantial decrease in European industry volume as scrappage programs expire. This decrease could more than offset U.S. sales volumes, which may improve somewhat from this past quarter's levels.

Ford expects to know more about the state of the global economic recovery and its impact on 2010 auto industry volumes in the coming months. Early next year, Ford will provide guidance on its 2010 planning assumptions and operational metrics when the company releases its full-year 2009 results.

"The third quarter is one the entire Ford extended team can be proud of because it proves that our product-led transformation is working," Mulally said. "Leading indicators are now showing signs of recovery in all of our major markets, however, consumer confidence and labor market conditions remain a concern."

"Despite the continued economic headwinds, we remain confident that we have the right plan and are taking the right actions to transform Ford into a lean company that delivers profitable growth for all our stakeholders," Mulally added.

Ford's 2009 planning assumptions regarding the industry and operating metrics include the following:

Planning Assumptions

Full Year Plan

Full Year Outlook

Memo: First Nine Months

Industry Volume (SAAR)**:

–U.S. (million units)

10.5 – 12.5

About 10.6


–Europe (million units)***

12.5 – 13.5

About 15.7


Operational Metrics

Compared with 2008:


-- U.S.


On track


-- International




--Automotive Structural Costs****

Improve by about $4 Billion

Improve by about $5 Billion

Improved by $4.6 Billion

. -- U.S. Total Market Share (Ford and LM)




Share of Retail Market




-- Europe Market Share ***

Equal / Improve



. --Auto. Operating-Related Cash Flow*****

Negative but Significant Improvement

On track

$(3.4) Billion

Absolute Amount:

. --Capital Spending

$5 Billion to $5.5 Billion

About $5 Billion

$3.4 Billion


*........ Pre-tax profits excluding special items

**...... Includes medium and heavy trucks

*** .. European 19 markets Ford tracks

**** Cost changes are measured at constant exchange, and exclude special items and discontinued operations. In addition, costs that vary directly with volume, such as material, freight and warranty costs are measured at constant volume and mix

***** See tables at end for reconciliation to GAAP

Ford's production volumes are shown below:

Production Volumes



Third Quarter 2009

Fourth Quarter 2009





Ford North America





Ford Europe










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    • 1 Second Ago
      • 5 Years Ago
      Any advises for an investor who's interested in buying this stock?
      • 5 Years Ago
      To all the nah sayers, Ford is back and firing on all cylinders:
      - $1Billion "Surprise" proft
      - $1.3Billion Positive cash flow
      - $23.9Billion cash on hand
      - All global operations profitable (except Volvo)
      - Increasing marketshare
      - Higher transaction pricing - I guess the (19) "Whiz Kids" pricing models are working

      Plus, Ford has a pipeline full of exciting new product and powertrains... the fun is just getting started.

      PS. Buy Ford (F)
      • 5 Years Ago
      Kudos, compliments and congratulations to the folks at the Big Blue Oval!
      • 5 Years Ago
      I bought in a few times at an average of $2.43 a share back about 8-9 months ago, so this is great news. I still expect the stock to climb to $15-20 within the next 2 years. I've always hated American cars with a burning passion, but the past couple years have been fantastic for Ford. It just goes to show that with great leadership and a solid plan, things end up working out in the end. It even more so goes to show that if you sell a great product that is equal or better to your competition, people will buy it. Plus, their street-level marketing has been fantastic and they're always all over the place giving people cars and sponsoring events.

      It's been painful to watch Ford build all these awesome cars in Europe and give us garbage like the Crown Vic, Explorer, etc. but it seems like they're fully on board with a global product line. I can't wait to see what they've got in their pipeline with the Kuga, new Focus, etc.
      • 5 Years Ago

      "Your comment is more angry than all Matt's comments together!"

      I don't understand why you would say that. I was really curious why matt always seems
      to be upset about Ford. But someone answered that it had to do with a warranty claim
      that didn't go his way. If the truth were known he probably loves the Fusion Hybrid (or some other Ford product) and won't let himself buy one because he's still mad about the warranty - and that makes him even more frustrated!!

      By the way, I'm happy to say I'm a Ford fan! The only non-government American car company (of any significant size)! It's terrific they had a good quarter and I just hope the UAW doesn't bankrupt them in the long run.
        • 5 Years Ago
        @Dieselfan- Your post comment wasn't angry in the least. I too, was wondering what Matt's deal was... I've asked him before why he hates Ford so much, but by then he always abandons the topic to find another pro-Ford article to crap all over. I think he's a closet fan of the EcoBoost engine, F-150 Raptor, Lincoln MKT, and Taurus SHO. ;) Wonder what kind of issue it was that they denied coverage for?

        @Matt, please feel free to actually answer this time. I can be very open-minded, but when you rant without explaining your position for doing so, it only makes you look childish and desperate. What exactly did Ford do to you?
      • 5 Years Ago

      I'm really curious about your comments. Several posters on here are obviously from Ford fans, but others are from folks who probably prefer GM, Honda, or whoever. But your comments are so angry sounding. It seems like you're really upset that Ford has had a little good fortune. Do you have something personal against Ford? Or just a Ford hater because it's fun - for you?
      • 5 Years Ago
      Matt paid $700 to fix a problem with his Crown Victoria. This item was later recalled, and customers were reimbursed for their repair. Matt was not reimbursed.

      This means 1 of 2 things happened. Either he did not keep records, or, his repair was not what the reimbursement was for.

      Either way, he feels that Ford owes him $700. He has felt this way, for years now. After he was banned from BON (Blue Oval News) for being a troll.............. and banned by several other websites, he has found a home here, and a brother in arms Farago at TTAC (well, only when he talks against Ford, not when he talks against GM)............ as trolls are never banned here................... and anyone who agrees with Farago is deemed a mesiah on TTAC (where any post that speaks against a Farago article is removed).

      Thus is the sad and twisted life of Matty boy. (I will now wait for him to call me a man, and any other dillusional rantings that may appear)
      • 5 Years Ago
      Time for a UAW strike!
        • 5 Years Ago
        Yep! The union mafia is probably planning it right this second. C4C certainly contributed to this profit but Ford was on the way to making one anyway. It may not have been this quarter but they were heading towards profit.
      • 5 Years Ago
      This is just part of the C4C bubble (a bailout under another name). The government can't shovel cash at Ford forever, though, be it through DOE "loans" or Socialist-green schemes.
        • 5 Years Ago
        Brian, Brian, isn't this the middle of a school day?

        If you're going to insist on parroting this DOE loan conspiracy theory crap, at least quote the correct numbers. Try to follow along here- Ford was approved for UP TO $5.9 Billion, which will work like a continous line of credit. They've only asked for and accepted about $884 Million, with no currently laid-out plans to use more than that of the DOE's "credit line". However, the other $5 Billion is still available if they have any more "green" projects to be developed in the future. The same rules will apply for Nissan, Fisker, Tesla, etc. Just like when Mulally went to DC to speak before Congress last year, Ford was merely making sure that there was a guaranteed loan available IF they ever needed it. They sure as hell don't need those TARP funds now. Chapter 11 is not happening for Ford. What about that is so difficult to grasp?

        And if you're gonna bash Ford for making sales under C4C, then you have to dish it out towards Toyota, too. They received the biggest chunk of money from the "bailout under another name" that you hated so much, so why hate on Ford for that if you can't be (at least) equally upset with Toyota for stealing "your tax money"? OK, I'll actually answer that one; you're a blind Toyota cheerleader/fanboi.
        • 5 Years Ago
        Yes, Spartan, all automakers were bailed out by the money handed out by the Feds to buyers, to suppliers, to banks, to the companies themselves.
        • 5 Years Ago
        Toyota doesn't have to worry about keeping the lights on if there wasn't any C4C, Ford did. THATS the difference.
      • 5 Years Ago
      why not the LS2LS7?:

      Every single automaker with ties to American suppliers would have run into a similar issue, so I fail to see what your point is here. No one was immune.
        • 5 Years Ago
        No one was immune is my point exactly. Do you not see my post where I say Ford was very wise and did a great job? But to say they didn't get any assistance is incorrect. They got a lot of assistance. Without it, they'd be as bad off as GM or Chrysler are (with it!).

        My point is simply stop voting people down who tell the truth just because you don't want to hear it.
        • 5 Years Ago
        You're free to post whatever you want, I don't participate in voting at all because it really serves me no purpose. Not sure why having 3 stars or 1/2 star matters anyhow. If it does matter to you that much maybe you shouldn't work to find the negative twist to upbeat and positive information.

        Also in the post that I referenced initially (I meant to issue my response as a reply, not as a stand alone post), you seemingly went out of your way to clarify that without supplier assistance Ford would have faced serious financial issues. Which is why I responded how I did, because it essentially stated the obvious.
        • 5 Years Ago
        I said no such thing. You're putting words in my mouth. I never said what Ford got and what GM or Chrysler got was equivalent.
        • 5 Years Ago
        @why not the LS2LS7?: You speaking about truth is funny. Like you aren't the one who tries all the time to make things look like there is no difference between Ford being awarded a loan from DOE (which they're yet to take) and GM taking tens of billions from taxpayers which they won't pay back.
        Thanks for playin' though.
      • 5 Years Ago
      Does "Your kids will pay for your car" Government program have anything to do with it?
        • 5 Years Ago

        Do your own research!!

        For has NOT received a $5.9B loan from the federal government. The company was simply awarded qualification for a conditional loan commitment for up to $5.9B from the DOE through 2011/2012. To date, these loans have not contributed a penny to Ford's current liquidity position.

        So, "a bailout"? No, I don't think so.
        • 5 Years Ago
        why not the LS2LS7?,

        You are correct. I misspoke when I said liquidity. More accurate would have been to say that the conditional loan guarantees are not responsible for Ford's current net profit.

        In either case, the fact remains: Ford has NOT taken a $5.9B loan as folks like you and Matt continue to incorrectly assert in support of your own resentfulness.

        By the way, if a federal loan guarantee makes Ford guilty of bailout (which it doesn't), then I guess no major automaker deserves to be in business.

        Do you think Toyota got here by their own bootstraps? To quote economist Ha-Joon Chang: "The Japanese government kicked out General Motors and Ford in 1939 and bailed out Toyota with money from the central bank (Bank of Japan) in 1949". More recently: http://www.businessweek.com/autos/autobeat/archives/2009/03/toyota_wants_a.html

        • 5 Years Ago
        Here's another one to vote down:
        Ford wouldn't be around without the bailouts and credit guarantees to their suppliers. Something they admitted early on.


        Fanboyism is lame. Stop voting down people just because you don't like to hear about how the various government stimulus and auto industry support programs helped Ford out of this horrible economic situation.
        • 5 Years Ago
        why not the LS2LS7?

        Ford took DOE funding, the same funding given to other company's like Tesla, and even some forgien....

        It wasn't a domestic bailout, if anything it made the playing field more even due to the fact that Japan, Korea, and Germany all pump money into their respective companies for research. And up until now, the American companies had to compete with that.

        DOE funding is for pushing use to further our dependacy off oil, and im guessing would have been given regaurdless.
        • 5 Years Ago
        And John...do some research:

        Ford DID take a loan from the Government...it was 5.9 BILLION dollars.
        • 5 Years Ago
        Not that anyone even cares about your posts but, every time you open your mouth you discredit yourself a little bit more. You must be a huge Rush Limbaugh fan.
        • 5 Years Ago
        Just like your kids' Iraq war?
        • 5 Years Ago
        Soccer Mom:

        That's the only reason! The only reason Ford (claims) posted a profit is because of government assistance...C4C.
        • 5 Years Ago
        All those things you say are true. All of what I said was true too. There is no reason to be a fanboy and vote down those who are telling the truth just because you don't want to hear it.

        Ford has made the most of the assistance available to them, this has put them on top. But this is not at all the same as them not taking assistance. No one forced them to take DoE money. And they admitted that supplier assistance benefited them. So the fanboys would do well to stop trying to say it is otherwise.
        • 5 Years Ago

        Those were green car loans for funding research and development of advanced fuel efficient cars. Not the same as a bailout!
      • 5 Years Ago
      It's only going to improve for Ford when they release the new Fiesta.
        • 5 Years Ago
        @luis, defiantly and that traffic will continue to help them. Glad to see Ford's doing so well, gov hand outs or not, they've got a much more solid model than their domestic rivals.
        • 5 Years Ago
        I remember when the kids at school used to make FORD jokes..
        Fix Or Repair Daily..
        Found On Road Daily..
        But I'm glad to hear that they are doing so well.
        It never ceases to amaze me how good quality products can lead to amazing results :)

        keep up the good work Ford!
        • 5 Years Ago
        I have to agree with Luis, the respective launches of the new Focus and Explorer will be much more significant than the Fiesta. The Fiesta will benefit Ford's C.A.F.E. number moreso than it will generate profit.
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