NPR logo

Ford Posts First Full-Year Profit Since 2005

  • Download
  • <iframe src="https://www.npr.org/player/embed/123059983/123059982" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Ford Posts First Full-Year Profit Since 2005

Business

Ford Posts First Full-Year Profit Since 2005

Ford Posts First Full-Year Profit Since 2005

  • Download
  • <iframe src="https://www.npr.org/player/embed/123059983/123059982" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Ford Motor Co. says it made $2.7 billion in 2009 — thanks to cost cutting, debt reduction and strong vehicle sales. Ford's reputation is seen as benefiting by being the only major U.S. automaker which didn't go through bankruptcy, unlike General Motors and Chrysler.

ARI SHAPIRO, host:

NPR's business news starts with a carmaker that's reporting some good news.

(Soundbite of music)

SHAPIRO: Today, Ford Motor Company reported its first full year profit in four years. The company says it made 2.7 billion dollars in 2009, that's thanks to cost-cutting, debt reduction, and strong sales of its vehicles. Ford's earnings stand in contrast with its struggling American rivals, GM and Chrysler. This also comes as Toyota grapples with a massive recall involving faulty gas pedals. Although, today, Ford said it has also halted production of some vehicles it manufactures in China because those vehicles use gas pedals made by the same American manufacturer that supplied the faulty pedals to Toyota.

Copyright © 2010 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.