Latest News

Ford made $2.7 billion (£1.7bn) net profit last year - its first profit in four years.

The yearly profit figure represents an improvement of $17.5bn (£10.8bn) on the previous 12 months.

The figures were revealed as Ford posted its fourth-quarter and 2009 earnings statements today.

Steve Cropley blog - The Mulally miracle

They reveal that the company achieved pre-tax operating profits of $454m (£279m) for the year, representing a $7.3bn (£4.9bn) improvement on its 2008 figures.

Underlying the extent of the car maker's turnaround during the course of the 12 months, it reported pre-tax profits of $1.8bn (£1.1bn) in the fourth quarter alone.

Ford chief executive officer Alan Mulally, said: "While we still face significant business environment challenges ahead, 2009 was a pivotal year for Ford and the strongest proof yet that our One Ford plan is working and that we are forging a path toward profitable growth by working together as one team, leveraging our global scale.

"In every part of the world, we are providing customers with great products, building a stronger business and contributing to a better world."

Twitter - follow autocar.co.uk

Join the discussion

Previous story  |  News home  |  Next story