Ford Surprises With $100M Q1 Profit

Automaker nabs car, truck of the year

(NEWSER) - Ford vehicles won both car and truck of the year at the North American International Auto Show in Detroit, cementing the carmaker's dominance over its domestic competition. The Fusion Hybrid snagged car of the year, and the company copped truck of the year for the second consecutive year with the Transit Connect. Ford was the only American auto firm to gain market share in 2009, CNNMoney reports. More»

(NEWSER) - Ford surprised the markets today by posting a $2.3 billion quarterly profit, thanks mostly to debt restructuring actions, Reuters reports. The result beat estimates and represents Ford's first good quarter in more than a year; this time in 2008, the automaker lost $2.7 billion. But the global downturn that pushed Chrysler and GM to bankruptcy is still biting Ford—without the debt reduction the company would have posted a narrow loss. More»

It's kinda jealous

(NEWSER) - Ford Motor Co., the lone member of the “Big Three” not to accept government help, is suddenly looking across town with dread and a touch of jealousy, the Wall Street Journal reports. A bankruptcy at GM or Chrysler could wreak havoc on Ford’s supply chain, as shared suppliers or dealerships buckled, all while giving the bankrupt competitors an edge by allowing them to exact deeper concessions from unions and creditors. More»

Promises to be profitable by 2011

(NEWSER) - Ford unveiled a new plan to restructure its operations today and predicted a return to profitability—or at least break-even—by 2011, the Wall Street Journal reports. The plan calls for aggressive cost cutting and an increased focus on fuel efficiency. One of the costs on the chopping block? CEO Alan Mulally’s salary, which would fall to $1 per year if the company gets the $9 billion government loan it’s asking for. More»

CEOs of America's automakers will renew plea for bailout today

(NEWSER) - The Big Three CEOs are heading back to Washington this week, and this time two of them will be driving, the Wall Street Journal reports—Alan Mulally in a Ford Escape hybrid, and Rick Wagoner in a Chevrolet Malibu hybrid. The CEOs will attempt Thursday to persuade Congress to extend them $25 billion in low-cost loans, based on reorganization plans to be submitted today. More»