THEJOKER
New member
http://www.ajc.com/business/ford-reports-1-billion-182622.html Good for them. I've never owned a Chevy.
Headlines
Ford shows profit.
- Thread starter THEJOKER
- Start date
Just a odd blip on the radar because of cash for clunkers they were able to not give discounts that they normally would. In other words for the consumer the cash for clunkers was a no gain deal because they paid more for the car then they otherwise would have and this made Ford and other manufacturers more profit per unit. Now that cash for clunkers is gone they will be in the same hole if not much worse then they were prior to CFC.
They had plenty of Gov. Funding in Cash for Clunkers. Lets not kid ourselves....
phragle
Charter Member
not only that, Ford is crushing Chrysler and Chevy in reliabilty..
[QUOTE]CBS/Consumer Reports: In their nationwide owner survey involving 1.4 million vehicles, the magazine said Ford is pulling away from its domestic competition and predicts that 90 percent of Ford, Mercury and Lincoln models will have average or better than average reliability in 2010. By contrast, 44 percent of GM models rated that well, while only 38 percent of Chrysler models did... Among family sedans, Ford's 4-cylinder Fusion and the Mercury Milan ranked higher than all other models except for Toyota's Prius. The Ford cars outscored Honda's Accord and Toyota's Camry, the two top-selling cars in America, "which many people view as the paradigms of reliability," [/QUOTE]
[QUOTE]CBS/Consumer Reports: In their nationwide owner survey involving 1.4 million vehicles, the magazine said Ford is pulling away from its domestic competition and predicts that 90 percent of Ford, Mercury and Lincoln models will have average or better than average reliability in 2010. By contrast, 44 percent of GM models rated that well, while only 38 percent of Chrysler models did... Among family sedans, Ford's 4-cylinder Fusion and the Mercury Milan ranked higher than all other models except for Toyota's Prius. The Ford cars outscored Honda's Accord and Toyota's Camry, the two top-selling cars in America, "which many people view as the paradigms of reliability," [/QUOTE]
JupiterSunsation
New member
They also "pre-sold" many cars due to the clunker program, as in it was the push to sell cars that people may have bought in the next year anyway. Now that those buyers have already bought the cars then the "future" sales will be that many less.
I did drive a new GT500 Mustang over the weekend and yes it was fast! Car only had 3400 miles on it and was bone stock (until next week). Saw 130 before shutting it down, car was really torquey. I think it was the fastest car I have driven.....even 10 years ago I was way more into cars than now. The cars today are putting out so much more HP than their counterparts 10 years ago!
I did drive a new GT500 Mustang over the weekend and yes it was fast! Car only had 3400 miles on it and was bone stock (until next week). Saw 130 before shutting it down, car was really torquey. I think it was the fastest car I have driven.....even 10 years ago I was way more into cars than now. The cars today are putting out so much more HP than their counterparts 10 years ago!
clayinaustin
Charter Member
DEARBORN, Mich. – Ford, the only Detroit automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of nearly $1 billion in the third quarter and forecast a "solidly profitable" 2011.
The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer. Ford's shares rose 58 cents, or 8.3 percent, to $7.58 in pre-market trading.
The latest results signal that Ford's turnaround is on more solid ground. The company lost more than $14.6 billion last year and hasn't posted a full-year profit since 2005. While it made a profit in the second quarter, that was mainly due to debt reductions that cut its interest payments.
Dearborn, Mich.-based Ford reported third-quarter net income of $997 million, or 29 cents per share. Ford also forecast a "solidly profitable" 2011. Previously the automaker said it would be break-even or better.
Its key North American car and truck division posted a pretax profit of $357 million, the company's first quarter in the black since early 2005. Ford cited higher pricing, lower material costs and increased market share for the improvement.
The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer. Ford's shares rose 58 cents, or 8.3 percent, to $7.58 in pre-market trading.
The latest results signal that Ford's turnaround is on more solid ground. The company lost more than $14.6 billion last year and hasn't posted a full-year profit since 2005. While it made a profit in the second quarter, that was mainly due to debt reductions that cut its interest payments.
Dearborn, Mich.-based Ford reported third-quarter net income of $997 million, or 29 cents per share. Ford also forecast a "solidly profitable" 2011. Previously the automaker said it would be break-even or better.
Its key North American car and truck division posted a pretax profit of $357 million, the company's first quarter in the black since early 2005. Ford cited higher pricing, lower material costs and increased market share for the improvement.
rschap1
Active member
I sure hope that the UAW doesn't "F" them over...
I ain't liking the sound of their NO voting on their contract.
Hard to believe an autoworker wouldn't be willing to budge a little after looking across the street at the GM and Chrysler camps...
As a sidetrack, I did visit the Henry Ford Museum and Greenfield Village with my son's 5th grade class last week. WOW!! HUGE does nothing to describe Ford's presence in that region. HUGE HUGE HUGE!!! It looked as though all of Detroit owes Ford ALOT. So many examples of philanthropy there. INCREDIBLE! I could help but think, "what if...?" I wish them the best.(Been driving Fords for alot of years now) There is going to be one HE-- of a black hole if their sucess fades! BTW kids had a great time, and my son got to run an old turret lathe making a candle stick holder. Neat place full of history. I was surprised by how much GM, Chrysler, and foreign auto history was shown. Expected it to be slanted more towards the Blue Oval but not at all. Can ya tell I was impressed.
I ain't liking the sound of their NO voting on their contract.
Hard to believe an autoworker wouldn't be willing to budge a little after looking across the street at the GM and Chrysler camps...
As a sidetrack, I did visit the Henry Ford Museum and Greenfield Village with my son's 5th grade class last week. WOW!! HUGE does nothing to describe Ford's presence in that region. HUGE HUGE HUGE!!! It looked as though all of Detroit owes Ford ALOT. So many examples of philanthropy there. INCREDIBLE! I could help but think, "what if...?" I wish them the best.(Been driving Fords for alot of years now) There is going to be one HE-- of a black hole if their sucess fades! BTW kids had a great time, and my son got to run an old turret lathe making a candle stick holder. Neat place full of history. I was surprised by how much GM, Chrysler, and foreign auto history was shown. Expected it to be slanted more towards the Blue Oval but not at all. Can ya tell I was impressed.
clayinaustin
Charter Member
I think y'all missed my point. Ford is rasing prices!
www.fordvehicles.com/trucks/f150/models/
$42,000 for a 1/2 ton pickup truck???
LaughingCat
New member
Too much cheap plastic in Ford and Chevy. Stoped buying Dodge when their 318's kept blowing on my due to sludge. (long story, almost a class action alwsuit to get warranty coverage.) Switched to LExus and no problems. My wife's Lard Rover Discovery is 6 years old and spends most of its time at dealership.
We're considering the GMC Denali so she can tote more kids during carpool. I like the On-Star package for safety. She'd prefer a Range Rover. i told her to get used to disappointment.
We're considering the GMC Denali so she can tote more kids during carpool. I like the On-Star package for safety. She'd prefer a Range Rover. i told her to get used to disappointment.
cuda
Banned
I think y'all missed my point. Ford is rasing prices!
www.fordvehicles.com/trucks/f150/models/
$42,000 for a 1/2 ton pickup truck???
I didn't pay that much for a one ton F 350 4x4 PSD. Where did you get that price???
I have...that's why I have a Ford.
2112
Founding Member / Contributor
Don't worry, the UAW has rejected the contract that Leadership OK'd a few weeks back.
http://www.tulsaworld.com/business/article.aspx?subjectid=54&articleid=20091101_13_A8_DETROI391943
.
http://www.tulsaworld.com/business/article.aspx?subjectid=54&articleid=20091101_13_A8_DETROI391943
.
LaughingCat
New member
Don't worry, the UAW has rejected the contract that Leadership OK'd a few weeks back.
http://www.tulsaworld.com/business/article.aspx?subjectid=54&articleid=20091101_13_A8_DETROI391943
.
Hey, if they want to 'vote' themselves out of a job, no worries. There comes a point when the desperate laid off workers will work outside the union.
phragle
Charter Member
maybe they should read up on the merc/union fiasco.... they may get it up the azz, but at least they get the reach around of still having a job... unemployment in an economy ripe with joblessness offers no such reach around, and the lube of the unemployment check runs out faster than they realize....
2112
Founding Member / Contributor
Or Boeing out here. Machinists (plane assemblers) Union goes on strike every three years.
Now they are ****ed that Boeing is opening another line in S. Carolina.
Here are pictures of the statues outside the union headquarters;
"Of all the images the IAM chose to portray with a statue outside their headquarters, why didn't they show workers carrying their tools? Or workers diligently... working?
Instead, they chose to use the image of workers on strike carrying picket signs. This is a huge part of the problem of the dispute between the union and the company".
Now they are ****ed that Boeing is opening another line in S. Carolina.
Here are pictures of the statues outside the union headquarters;
"Of all the images the IAM chose to portray with a statue outside their headquarters, why didn't they show workers carrying their tools? Or workers diligently... working?
Instead, they chose to use the image of workers on strike carrying picket signs. This is a huge part of the problem of the dispute between the union and the company".
