Congrats: Another Strong Quarter for Ford Motors… No Emergency Government Aid, No Bankruptcy Filing (video)
Posted By Vicki McClure Davidson on July 23, 2010
Seems significant to point out that, in light of another profitable quarter during this weak/dismal/horrible (take your pick) economy, Ford is the only Detroit automaker NOT to file for bankruptcy protection nor receive emergency federal government aid.
Free market principles work. Imagine that.
From NY Times, Ford Posts Another Quarterly Profit as Sales Climb:
DEARBORN, Mich. (AP) — Ford Motor Co. posted a strong second-quarter profit Friday but trimmed its U.S. sales forecast and predicted weaker results in the second half as the economy slowly recovers.
The automaker surprised Wall Street, making $2.6 billion in the quarter as it continued to grab sales from rivals. Ford’s U.S. sales rose 28 percent in the first six months of this year. That’s almost double the pace of industrywide sales.
It was Ford’s fifth straight quarterly profit, and the No. 2 U.S. automaker predicted a strong 2010 and even better 2011. But it said it will make less money in the second half of this year because of seasonal plant shutdowns, costs for new product launches and rising prices for raw materials like aluminum.
The automaker said U.S. sales, which hit a 30-year low in 2009, remain weak, with many shoppers not yet confident enough about the economy to buy new cars. Ford cut its forecast for total U.S. auto sales to a range of 11.5 million to 12 million. The company had predicted sales of 11.5 million to 12.5 million cars and trucks. Ford held its third-quarter production forecast steady at 1.27 million cars and trucks worldwide.
Ford President and CEO Alan Mulally said the company is making money in the challenging environment because of strong new products and a leaner, global structure in which more vehicles around the world share parts.
Shares of the Dearborn, Mich.-based company rose 41 cents, or 3.3 percent, to $12.50 in morning trading.
Helped by brisk sales of products like the Ford Fusion sedan and F-150 pickup, Ford has gained market share in the U.S. from Toyota Motor Corp., which was hurt by a series of safety recalls, and General Motors Co. and Chrysler Group LLC, who were tainted in some buyers’ eyes for accepting federal bailout money last year.
Ford ended the quarter with 17.2 percent of the U.S. market, up from 16.9 percent at the end of the first quarter, according to auto information site Edmunds.com.
Terrific Ford F-150 2009 commercials that aired in 2008… they used graphic animation and live-action truck footage.
Ford F-150 – “Way of Life” commercial
Ford F-150 – “A Little Control” commercial
Ford F-150 – “Crazy Smart” commercial
Additional:
Frugal Café Blog Zone: Rasmussen’s Prez Approval Index for Obama… Déjà Vu at Dismal Minus 17, Unemployment Improves Only Because Americans Have Lost Hope, Stopped Looking for Work and “Duh” Files: Obama’s Approval Drops Like a Metamorphic Rock in Arizona… Disapproval of POTUS Worsening on Economy, Illegal Immigration, Job Markets and Oops: VP Biden’s Campaign Owes Treasury $219,000 Due to “Sloppy Bookkeeping” & Excessive Contributions… Biden’s Still in Charge of Watchdogging Wasteful Stimulus Program and “Skin in the Game” Barack-Style– First Family’s Dog Bo Flies to Obamas’ Maine Vacation on a Separate Jet and Oh, Joy! Cocaine Addicts Studying Chinese Meditation, Team Obama Hands Over $410,625 of Tax Payers’ Money to Make It Happen and Clowns in DC: Team Obama Messes Up Unemployment Payments Again… Overpayments Have Doubled Since Last Year’s Overpayments and Stimulus Waste: Millions of Taxpayer Dollars Spent on Signs by Democrats, Team Obama (video) and Limbaugh Transcript: Obama Claims He Inherited “Decade of Economic Uncertainty”… What Decade Is POTUS Talking About? and Bloom off the Liberal Elitist Rose: Mort Zuckerman Clobbers Obama, Even Barbra Streisand Against POTUS on His Deficit Spending Disaster (video)
Flopping Aces: Why Democrats Won’t Run on Jobs Record in November Election
Gateway Pundit: Unreal. Obama Touts “Enormous Progress” Urges Reporters to Focus on Broken Economy and Glenn Beck Discusses Blatant Dishonesty at Far Left Website Think Progress and Obama Continues to Lie About Jobs; Says “I Expect to Be Held Accountable” (Video) and Thanks Barack. US Economy May Not Recover For 5 or 6 Years and White House Admits GOP Could Take House Back… But, Will Stick With Failed Policies Anyway and Dem’s Financial Bill Imposes Race & Gender Quotas on Financial Sector and Dem’s Financial Bill Imposes Race & Gender Quotas on Financial Sector and Figures. Obama Praises Electric Vehicle Manufacturer That Makes Trucks That Cost Twice as Much as Normal Truck and As Dem Policies Continue to Fail Miserably – November Thumpin Looks More Likely and Independent Voters Abandon Radical Obama in Droves and Obama’s Cloward-Piven Economic Strategy Working Out As Planned and Dems Refuse Compromise on Unemployment Benefits; Go On Vacation and After US Economy Loses Another 125,000 Jobs Obama Says: “We’re Heading in the Right Direction” (Video)
VotingFemale: Senator John Kerry (D-MA) Swiftboat Dodges $475,000 in taxes
Doug Powers, Michelle Malkin: CBS Reports Obama’s Unemployment Benefits Flip-Flop
Nice Deb: Mark Levin On The New Financial Reform Law
Telegraph: With the US trapped in depression, this really is starting to feel like 1932
Motor City Times: Videos: The Principles Of Liberty, Freedom, & Free Enterprise and You Try And Fix The Federal Budget
USA Today: National debt soars to highest level since WWII
About the author
Hi Vicki!
Did you catch the administration taking credit for Ford’s survival? lol
btw, I was missing in action for several months. Just now getting back into the blogging again. Was hospitalized for over a month and two surgeries. ugh At least I survived. that is the good news.
VF, I had wondered what had happened to you and your blog. I checked it frequently, but I had no idea you had surgery, dear friend. I hope you’re doing better now – I’ve missed you tremendously. Do whatever the doctors say you must so that you will have a speedy recovery, girlfriend.
As far as Ford goes, of COURSE Team Obama will take credit. It’s one of the few succeses in the growing list of disasters in the economic scene as of late. The fact that Ford said no to their handouts should make them cringe, so the administration must have their “spin monkeys” do with it what they can to bring it ’round back to BHO to shower him with ill-earned glory. So hilarious, so predictable. The F-150 pickup truck is a superior product to all the “tiny green vehicles” the administration wants the industry to crank out. It is one of the main reasons for Ford’s continued success – people want trucks that do the job… the F-150 delivers. No amount of government propaganda can change that.
Obama won’t take any blame for anything bad that occurs on his watch, but will happily take credit for all good things he had nothing to do with. What a clown. Even Carter didn’t do that.
Worst. President. Ever.