Ford Earns a Profit

Kate Yule
Monday, November 2, 2009

Ford is revealing surprising profits for its third quarter.

The automaker says it made nearly US$1 billion in the third quarter.

Ford’s president and CEO is elated with the news, saying the company's future is looking good. Alan Mullaly says the company expects to be ‘solidly profitable’ in 2011.

The company says increased market share, lower costs and U.S. government’s Cash for Clunkers rebates fueled the profits.

The revelations come just a day after unionized workers at Ford Canada’s plants approved a cost-cutting agreement similar to the one signed by Chrysler and GM workers.