Ford in the Black, Thanks to Cash for Clunkers

Ford Motor Co. is reporting almost $1b in profits in the third quarter. CEO Alan Mulally credits the Cash for Clunkers program and cost cutting for their success.
November 2, 2009, 1pm PST | Tim Halbur
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"Ford, the only one of the three big U.S. carmakers that didn't file for bankruptcy this year, reported net income of $997 million, or 29 cents a share, for the three months ended Sept. 30. That compared with a net loss of $161 million, or 7 cents a share, in the same quarter a year ago."

The Ford Focus, a compact car that gets 35 mpg on the highway, was one of the most popular cars available under the Cash for Clunkers program.

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Published on Monday, November 2, 2009 in The Los Angeles Times
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