Ford expects profit in 2011

Ford will return to profit in 2011, according to executive chairman Bill Ford.

Speaking at the annual meeting of shareholders, Ford also said that the company was on course to operate without the need for US government loans, and plans for healthcare trust for UAW retirees wree approved.

"Much of the tremendous progress we have made has been overshadowed by the economic crisis of historic proportions that began last year," said Ford. "We are undergoing the most rapid and far-ranging transformation in our history."

Ford CEO Alan Mulally added: "We are confident that we will not only survive this downturn, but that we will emerge as a lean, globally integrated company poised for long-term profitable growth."

Ford is the only US car maker not operating under US government emergency loans, as Chrysler and GM are.