Ford Swings Into Profit in Q3

Company expects to be solidly profitable in 2011

Ford Motor Co. reported a profit of $997 million in the third quarter.

Overall pre-tax operating profit totaled $1.1 billion, an improvement of $3.9 billion from the 2008 July-September period and the first quarterly profit since the first quarter of 2008, the company said.

For the key North America market, the company posted a pre-tax operating profit of $357 million, swinging into the green for the first time since the first quarter of 2005.

"Strong new products, structural cost reductions and improved results at Ford Credit lifted the company's results despite continued weak global economic conditions," the company said.

"Ford now expects to be solidly profitable in 2011, excluding special items, with positive operating-related cash flow."

Copyright Agence France-Presse, 2009

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