Ford posts best profit in 10 years for 2010

Ford posted an annual profit of US$8 billion for the year 2010, its best result since reporting profit figures of $10.2 billion in 2000. It marked the second year of profits for Ford, after posting three consecutive years of losses from 2006 to 2008.

Ford CEO Alan Mulally and Chairman Bill Ford says that the company has now gone past fighting for survival, and are concentrating on increasing profits around the world. Ford has managed to reduce its debt and predicts continued profits for 2011, although slightly lower than 2010.

Ford managed to increase sales by 19.5 per cent in 2010, against the industry average of 11 per cent. The figures stood at 1.93 million vehicles sold in the US, resulting in total revenue of $120.9 billion, a $4.6 billion increase over 2009.