The Car and van manufacturer Ford has just announced that in 2010 it made its highest annual profit in ten years. This certainly gives a lot of hope to car manufacturers showing that the economy is starting to strengthen from the recent lull.
The results from this announcement have also showed that for the second consecutive year The Ford Motor group have improved upon their previous profit figures but weighed in underneath the forecasted industry predictions. Something to note is that in America Ford were one of the only Car manufacturers that did not take advantage of the governments bail-out.
An official statement from the company read “This was Ford’s highest net income in more than 10 years, as strong products and new investments fuelled improvements in all of the company’s business operations around the world,”
Even the Ford chief executive commented “Our 2010 results exceeded our expectations, accelerating our transition from fixing the business fundamentals to delivering profitable growth for all,” “We are investing in an unprecedented amount of products, technology and growth in all regions of the world.”
Without a doubt this is great news for everyone involved in the motor industry, Ford announced that it made a profit not only in the American market but also throughout Europe. But by all means this has not been an easy feat for Ford as they have had to adapt a harsh and ruthless program of cost cutting.
This announcement is a result of car buying and investment throughout the world from minivan purchases in the US to Ford Focus Taunton sales in the UK.