Let the good times roll at Ford Motor!

Let the good times roll at Ford Motor! It’s amazing how this company turned around in the four years since CEO Alan Mulally took over the top spot from Bill Ford. It won’t be easy to keep the market share gains Ford has seen in the past few years with GM and Chrysler experiencing their own comebacks. In the meantime you know the Blue Oval Crew isn’t sitting back but rather they are getting ready for another round of new product launches in 2011.

From the Detroit Free Press:

Ford is about to happily wave good-bye to 10 years of turnaround plans.

The Dearborn automaker, which plans to announce year-end financial results Friday, is poised to report a profit for 2010 of about $8 billion excluding onetime charges — the automaker’s biggest annual profit in a decade.

Ford usually announces how much annual profit-sharing checks will be that day. The checks, expected in March, could give the local economy a $240-million boost, said David Sowerby, economist and chief portfolio manager for Loomis Sayles. Bernie Ricke, president of UAW Local 600, said the checks will be “fairly significant and more than we’ve seen in several years.”

Read the full article.

  

New no. 1. Ford sales top GM, Toyota

New no. 1. Ford sales top GM, Toyota! It’s a whole new ballgame and Ford just won the first inning. Looks like at this point in time Ford has the “right stuff”.

NEW YORK (CNNMoney.com) — Recall-plagued Toyota Motor reported a 9% drop in U.S. sales in February, but it appears other automakers didn’t gain as much from Toyota’s problems as expected.

Even Ford Motor, which posted strong sales to vault ahead of Toyota and GM to claim the market lead in the U.S., said it didn’t believe its gains were a result of Toyota’s problems.

Ken Czubay, Ford vice president, said the company believes many traditional Toyota customers sat on the sidelines instead of buying a car from another automaker.

Read the full article here.


Photo from fOTOGLIF

  

Ford shocks the market by posting a profit

2010-ford-fusion-1

The automotive landscape has been changing so rapidly it’s sometimes hard to keep up. GM and Chrysler had to be saved by the federal government, while Ford was able to avoid that fate. Their troubles have probably helped Ford, but Ford has also been on a tear with impressive new models like the Ford Fusion, and many more new models are in the pipeline.

Auto analysts expected Ford to show some improvement, but the announced numbers were a pleasant surprise for many.

Ford Motor Co. posted a surprise profit of $2.3 billion for the second quarter — a sharp contrast to the whopping $8.7 billion loss it reported for the same period a year ago — but the profit was largely due to one-time gains related to its debt reduction moves.

Even with those special items removed, the Dearborn automaker surprised Wall Street with a pre-tax operating loss of $424 million for the second quarter of 2009, excluding special items — a $609 million improvement compared with the second quarter of 2008.

After taxes and excluding special items, Ford posted an operating loss of $638 million in the second quarter, or 21 cents per share, compared with a loss of $1.4 billion, 63 cents per share a year ago. That also was a marked improvement over the $1.4 billion loss — $1.8 billion after taxes and excluding special items — that Ford reported for the first three months of the year, when it lost 75 cents per share.

Wall Street had been anticipating a loss of 52 cents per share, after taxes and excluding special items, according to a survey of a dozen analysts by Thomson Reuters prior to today’s announcement.

“While the business environment remained extremely challenging around the world, we made significant progress on our transformation plan,” said CEO Alan Mulally. “Our underlying business is growing progressively stronger as we introduce great new products that customers want and value, while continuing to aggressively restructure our business and strengthen our balance sheet.”

It looks like Alan Mulally’s turnaround efforts are on track.

  

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