2010 NYIAS: Ford Boss Emphasizes Company's Comeback

In a speech at the 2010 New York International Auto Show, Ford's chief executive Alan Mulally emphasized that the company's development plan is going as planned and Ford is now very well positioned in the United States market; basically because Ford managed to find the best way to manage the money it raised through private markets back in 2006 while its rivals, Chrysler and General Motors, struggled to keep their brands alive in 2009.

Ford borrowed $23 billion in 2006 and since then, the company gradually increased its business to help it survive the 2009 crisis. The "worst recession since the Depression," as Mulally calls it.

And now, things are going well and Ford is on the right path to profitability. “I am very pleased to say that we respected all of our debt holders and our stockholders,” Mulally said according to NYTimes.com.

“During a time when many of our competitors pulled back, we actually accelerated new development,” Mulally said. “Now I feel it’s going pretty well. If you want to be in the car business these days, Ford is a good place to be. We are better positioned for the future than ever before. Market share is increasing. Our credit ratings are moving up. We are paying down debt.”

He emphasized that Ford's partners helped the company pave the way to profit and underlined that American carmakers must manufacture vehicles in the domestic facilities, and not overseas.

“America needs to have a continuous, lifelong commitment to manufacturing in the U.S.,” he said. “Now thanks to our partners such as the United Auto Workers and the financial industry, we can.”