Moose
November 2nd, 2009, 07:27 AM
DETROIT — The Ford Motor Company on Monday posted a surprise third-quarter profit of $997 million and said it had its first profitable quarter in North America in more than four years.
The carmaker also said it increased its cash reserves by $1.3 billion during the quarter, ending September with $22.3 billion.
For all of 2009, Ford, the only Detroit automaker to avoid bankruptcy this year, has had a profit of more than $1.8 billion. It reported $834 million of income in the first half of the year.
http://www.nytimes.com/2009/11/03/business/03auto.html
It will be interesting to see their next quarter without Cash for Clunkers.
The carmaker also said it increased its cash reserves by $1.3 billion during the quarter, ending September with $22.3 billion.
For all of 2009, Ford, the only Detroit automaker to avoid bankruptcy this year, has had a profit of more than $1.8 billion. It reported $834 million of income in the first half of the year.
http://www.nytimes.com/2009/11/03/business/03auto.html
It will be interesting to see their next quarter without Cash for Clunkers.