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Ford in the Black, Thanks to Cash for Clunkers

Posted by: Tim Halbur

2 November 2009 - 1:00pm

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.

"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.

Full Story: Click here to find out more! Ford reports nearly $1-billion profit in third quarter
Source: The Los Angeles Times, November 2, 2009
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These practices are also inequitable since they force non-drivers to subsidize parking costs, reduce travel options for non-drivers, and reduce housing affordability.
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