Ford Motor Co. | News
New York | When the World is facing recession time, there is Ford who declared its final last years financial report. They have made $2.7 billion in 2009 as net profit. They are also confident to make even more in 2010. In 2008 Ford loss was $7.3 billion and $3.20 a share. On those analysis and further forecast there was another year of loss was expected in 2009.
Image Courtesy: Ford Motor Company
Now the Ford’s share has increased to 5% after the announcement of this financial report in pre-market trading. Company has earned a remarkable net profit of #868 million. It’s operating income of $1.6 billion or 43 cents a share, was an amazing improvement after an operating loss of $3.3 billion or $1.40 a share last year.
Company is still facing a very challenging environment, a message given by Ford’s President and CEO Alan Mulally, We Struggled very hard to increase our market share in our major markets. One of the major market is USA. Ford’s share rose to 16.1% from 15% in 2008, its first increase since 1995.
Company’s revenue was fell down due to decrease in Ford’s Global Automotive sales dropped by 11% to 4.8 million. But in the forth quarter the sales were jumped 26% compared to last year 1.4 million vehicles and total revenue rose to 22% to $35.4 billion. Company’s forecast was at $32.6 billion, which was not just achieved but increased to $35.4 billion. On the basis of that company is expecting the same sales momentum for this year and also increased the first quarter production target by 42%.Buffer