Ford puts $2.7 Billion Profit on books for 2009

Not so bad for a domestic automaker these days, eh?  Especially when you consider that Ford lost $14.8 billion in 2008 – that’s over a $17 billion swing in just a single year.  A huge part of that swing ($5.1 billion) was due to reducing structural costs.  For years, we’ve known that the domestic automakers had costs that were just out of control.  Ford took note, and made some painful cuts to get costs back in line.  And, of course, Ford Motor Credit had a huge part to play.

The only real sour note about last year is Ford’s debt load – it’s up to a whopping $34.3 billion.  They do have $25.5 billion in cash sitting around, though, so it’s not *quite* as bad as it sounds.  In any case, Ford skipped bankruptcy and lives.  There’s a good chance that they could eventually be a healthy company once again.  Good times.

Published on January 28, 2010 in Ford

Previous post:

Next post: