• Jan 28th 2010 at 8:33AM
  • 70
Ford Motor Company has reported a fourth quarter profit for 2009 that helped the Dearborn, MI-based automaker end the last fiscal year in the black, its first yearly profit in about four years. While Ford's 2009 Q4 income was $868 million versus a loss of $5.9 billion the year prior, the effect on the year as a whole put $2.7 billion in the automaker's pockets versus a loss of $14.8 billion in 2008. What's more, Ford's Chief Financial Officer Lewis Booth forecasts a profitable 2010 and raised the company's outlook in 2011 from "break-even or better" to "solidly profitable."

Booth did caution that much of last year's profit had to do with debt restructuring, but Ford also lowered its structural costs in Q4 by $500 million and $5.1 billion for all of 2009, which also beat the company's own goal of a $4 billion reduction.

While financial numbers are difficult to understand and even harder to explain, there is one thing Ford announced that we're sure everyone can understand. The company will raise its first quarter production levels in North America by 20,000 units, from 550,000 to 570,000. This will help Ford meet rising demand for its cars and trucks and keep inventory hovering around a 60-day supply, the industry standard.

[Source: Ford, Automotive News - sub. req. | Image: Karen Bleier/AFP/Getty]

I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.

    • 1 Second Ago
      • 5 Years Ago
      Tide is changing. But sadly it took Ford a cost cutting strategy that started years ago to coincide with a recession that showed that they didn't need a bailout after requesting for one for people to notice that they make competitive products. Yet their products have been competitive andreliable for the past 5 years but the old stigma of Fix Or Repair Daily, or Found On The Road Dead still linger. Thanks recession for washing the dirt off Ford's windshield for people to finally see longtime improvement!
      • 5 Years Ago
      Way to go Ford!

      Ford will pick up even more sales from people scared to death to drive their toyota Deathmobiles..."Oh What A Feeling!!!"
      • 5 Years Ago
      Loving my 2010 SHO (my first Ford ever). Looking at a Focus for the kid. Bought the stock a year ago. Bought more today. This is a great American auto turnaround story in the making. The future isn't assured, but the Ford plan and execution continue to look promising. Haters can't deny that.
      • 5 Years Ago
      See, American automaker need not be a byword for shoddily run business.

      C'mon people, can't you see that the situations facing GM and Chrysler are of their own doing? Why are we bailing them out.

      If anybody is going to subsidize any cars, let taxpayers in other countries subsidize cars for me.
      • 5 Years Ago
      A rising tide lifts all boats!
      Ford is a winner. That's what rolling your sleeves up and using your head bring you.
      Americans can turn the Titanic around.
      • 5 Years Ago
      Where oh where is Matt (in one of his various screenames). Not only was it a profit, but a profit of 2.7 BILLION. Oooh... what a feeling Matt.
        • 5 Years Ago
        Please don't encourage the trolls.
        It has been much more enjoyable to read the great Ford news on Autoblog of late since Matt has had his wings clipped. We are down by one moron, but still have at least three left, so please don't encourage them to rant with their stupid anti-Ford comments.
        • 5 Years Ago
        All Japanese lovers are in hiding the couple of days LOL
        • 5 Years Ago

        I like cars, period.
      • 5 Years Ago
      Nicely done Alan! I see nothing but good things to come from Ford and the "One Ford" strategy that should have been implemented eons ago.

      • 5 Years Ago
      all i have to add is, thank you. Ford is one of the few companies STILL worth standing behind and supporting. i'm no fanboy, i drive a mazda (i know partnered with ford, but mine is no ford) and i have never owned a ford, not yet anyway... congrats to them, way to be the come back kids for America.
      • 5 Years Ago
      Congrats Ford.
      • 5 Years Ago
      Good for Ford! They deserve their success. Now maybe with some of their profit they could design a new rear wheel drive platform for new Lincoln mid-size and full size RWD cars to truly compete with the competition. New mid-size LS and a full-size 7-series, S-class and LS460 competitor please!
      • 5 Years Ago
      So they made a $2.7 billion profit during one of the worst years the economy has seen lately? Just think of how well they would've done during a good year. And now with the Fiesta and the Focus coming along soon, I can't see them being anything but successful this year as well, even in a bad economy.
      • 5 Years Ago

      Congratulations Ford's!
    • Load More Comments
    Share This Photo X