Ford in Good Shape Despite Crisis

Ford, the sole survivor of the Detroit Three, is actually in good shape at this point, in spite of the economic recession which is still putting pressure on the shoulders of American manufacturers. Chief executive officer Alan Mulally said the company is still on track to become profitable, as he revealed earlier this year.

"We have sized ourselves so we are competitive and we can be profitable," he said according to a report by drive.com.au.

Once again, Mulally admits that GM's and Chrysler's currently difficult situation might be a good thing for Ford, as consumers, especially those in the United States, are more attracted by a viable company than one that might go bankrupt at any time.

"People also want to know they're with a company that is viable and is here for the long term," he told reporters.

Talking about Ford's financial situation, Mulally stated once again that the manufacturer could return to profitability in 2011 in case everything goes according to the plan, with the first signs of recovery already spotted in most markets.

"We're in really good shape with the balance sheet where we are now as soon as we get back to profitability and positive cash flow in 2011 then well accelerate improvements to the balance sheet," Mulally said.

Back in March, Mulally told in an interview for The Detroit News that Ford already became competitive, mostly thanks to the restructuring plan it has established.

"We are competitive now," he said at that time. "The downturn is a temporary thing. We just have to make it through it. "We have the economy on the top of the agenda, and we're moving decisively to deal with it. We're not taking taxpayer money."