Ford Posts $1B Q3 Profit

Riding goodwill for refusing bailout, predicts 2010 profit, too

(AP) - Ford Motor Co. says it made $2.7 billion in 2009, its first annual profit in four years. Ford says it benefited from cost-cutting, debt reduction, and popular cars and trucks like the Fusion sedan and Escape SUV. It's also enjoying customer goodwill for avoiding bankruptcy and refusing federal aid, and Ford expects to be profitable this year as well. More»

(NEWSER) - The final numbers for the Cash for Clunkers are in, and they’re pretty rosy, the Los Angeles Times reports. Dealers had until yesterday to file for rebates, and the total was 690,114 new cars sold—and 690,114 clunkers traded in—for a total of $2.9 billion, just shy of the congressional allotment of $3 billion. “This is one of the best economic news stories we've seen,” says Transportation Secretary Ray LaHood. More»

(AP) - The Obama administration will end the $3 billion Cash for Clunkers program at 8pm Monday, giving car shoppers a few more days to take advantage of big government incentives. Dealers have complained about sluggish reimbursements, but Transportation Secretary Ray LaHood said the program has been "a lifeline to the automobile industry, jump-starting a major sector of the economy and putting people back to work." More»

Time offers tips for buyers considering CARS

(NEWSER) - Cash for Clunkers has become a smashing success—but is it right for you? Time explains how to get the most out of your clunker:

• First, make sure your vehicle really is a “clunker”: Cars that get more than 18 mpg, don't run, haven't been registered and insured over the last year, or are more than 25 years old don’t qualify.

The nation's No. 2 automaker says it has enough cash and credit available for 2009

(NEWSER) - Ford Motor Co. today reported its worst year in its 105-year history, driving through more than $5.9 billion in cash in the fourth quarter on its way to a $14.6 billion loss for the year, reports Bloomberg. The company said it had enough cash reserves and credit available to survive without tapping into any government bailout money. More»