HB DETROIT. Ford has a good run: The U.S. automaker was unable to pick in the third quarter of a billion-dollar profit. Thanks to the full cash, the company pays back part of its debt and investing heavily in its factories. Only the business in Europe is weakening. The European subsidiary based in Cologne gave the U.S. parent heavy losses.
The bottom line is Ford earned mainly thanks to increased sales at home again but $ 1,700,000,000, exceeding even the wildest expectations of market players. The stock rose premarket. In the same period last year, when the economic crisis raged, the Group had, thanks to a rigid austerity course retain already scarce billion dollars left over.
Turnover was 29.0 billion dollars. Because the sale of the Swedish subsidiary Volvo Ford had here suffered a fall of four percent. But that was only one flaw, as CEO Alan Mulally made it clear. He spoke of another strong quarter and expects the remainder of solid gains. 2011 will be run even better.
Ford’s world would be in order, were it not Europe with sales here dropped 7.3 billion to 6.2 billion dollars. From an operating profit of 131 million dollars was a loss of 196 million dollars. The European car market has declined overall, the Group established the weak performance, to make matters worse, Ford has lost market share and the costs had risen partly because of the launch of new models.
Ford is the only one of the three major U.S. automakers, who survived the severe industry crisis on its own. The domestic rivals General Motors (GM) and Chrysler had in the past year to file for bankruptcy, from which they found only with massive government help again. In the meantime, but even among them, the situation improved markedly. GM is expected to go back to the stock exchange in November. 40 million cars Ford car industry.