Just as analysts were expecting, the financial figures posted today by American manufacturer Ford made a lot of champagne bottles pop in the Dearborn headquarters. Ford posted on Friday the highest net income in the past ten year, $6.6 billion, a huge increase of $3.8 billion compared to 2009.
The other numbers announced by the car maker look equally as good. Ford reported $8.3 billion pre-tax operating profit (an increase of $8.3 billion). The automotive debt of the car maker has been reduced by $14.5 billion (43 percent down), which will lead to a reduction in annualized interest expense by more than $1 billion.
“Our 2010 results exceeded our expectations, accelerating our transition from fixing the business fundamentals to delivering profitable growth for all,” said Alan Mulally, Ford CEO. “We are investing in an unprecedented amount of products, technology and growth in all regions of the world.”
For the year that just started, the car maker has big plans as well. The One Ford strategy which landed Ford the extraordinary results of 2010 will continue, backed by a whole range of new products.
The year ahead will see the launch of the Focus in North America, Europe and Asia Pacific Africa, of the Focus electric in North America, the Ranger in Asia Pacific Africa and Europe and the addition of more and more EcoBoost engines to the lineup.
“We expect continued improvement in 2011, driven primarily by our growing product strength, a gradually strengthening global economy and an unrelenting focus on improving the competitiveness of all of our operations,” said Mulally. “We are delivering on our commitments to serve our global customers with a best-in-class full family of Ford products and delivering profitable growth for all associated with Ford.”
The other numbers announced by the car maker look equally as good. Ford reported $8.3 billion pre-tax operating profit (an increase of $8.3 billion). The automotive debt of the car maker has been reduced by $14.5 billion (43 percent down), which will lead to a reduction in annualized interest expense by more than $1 billion.
“Our 2010 results exceeded our expectations, accelerating our transition from fixing the business fundamentals to delivering profitable growth for all,” said Alan Mulally, Ford CEO. “We are investing in an unprecedented amount of products, technology and growth in all regions of the world.”
For the year that just started, the car maker has big plans as well. The One Ford strategy which landed Ford the extraordinary results of 2010 will continue, backed by a whole range of new products.
The year ahead will see the launch of the Focus in North America, Europe and Asia Pacific Africa, of the Focus electric in North America, the Ranger in Asia Pacific Africa and Europe and the addition of more and more EcoBoost engines to the lineup.
“We expect continued improvement in 2011, driven primarily by our growing product strength, a gradually strengthening global economy and an unrelenting focus on improving the competitiveness of all of our operations,” said Mulally. “We are delivering on our commitments to serve our global customers with a best-in-class full family of Ford products and delivering profitable growth for all associated with Ford.”