Alan Mulally miscalculated when he predicted that Ford would be profitable in 2011. With $2.7B in profit in 2009 after $14.7B in losses a year before, the Michigan automaker turned one of the worst years in the automotive industry into a victory despite not accepting federal bailout money.
In an interview on Fox Business News, Mulally discusses the company’s successes in 2009 and offers hints of a promising 2010.
Ford’s 4th quarter revenue of $35.4B, up 22% from a year before, sealed Ford’s fate as a profitable company in 2009. In a year in which success for domestic car manufacturers was expected to be based on minimizing losses, the news came as a pleasant surprise to both shareholders and consumers looking for hope in a down economy.
Recent recalls from Toyota and Honda have Ford and their domestic competitors rushing to take advantage of a rare slip in Japanese import sales.
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