Report: Ford’s profit the biggest in 12 years

NEW YORK - JULY 26: Ford Motor Company CEO Alan Mulally smiles during the unveiling of the 2011 Ford Explorer SUV at a press event in Herald Square July 26, 2010 in New York City. The new Explorer SUV touts a sleek newly designed look that the company hopes will attract new buyers to the venerable SUV line. Ford Motor Co. showed a stronger than expected quarterly profit of $2.6 billion while it's in a rebuilding phase in the slowly recovering economy. (Photo by Chris Hondros/Getty Images)

Ford Rolls!

From the Detroit News:

Ford Motor Co. earned $2.6 billion on higher car and truck sales in the second quarter, its biggest quarterly profit in 12 years, and repaid some of the debt that it took on to ride out the industry downturn.

“We’re ahead of where we thought we’d be after this excellent first half, and we expect even better results in 2011,” Ford President and Chief Executive Alan Mulally said.

“It appears to us we’re going to be able to improve the balance sheet and reduce the debt,” he told analysts and reporters Friday.

Read the full article here.

  

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