Amid the endless news of the weakened auto industry, glimmers of hope are beginning to surface. The brightest of these glimmers may be at Ford, which has reported a net income of $2.3 billion in the second quarter of this year. While the company still posted a pre-tax operating loss, Ford still managed to cut losses dramatically compared with last year.
Ford’s improved financial reporting is due to a number of cost cutting initiatives, improved market share, and encouraging results from Ford Credit, the automaker’s financial arm. A Ford dealer in Los Angeles says that all of these factors combine to ease the pain of the ongoing worldwide financial crisis.
With Ford continuing its restructuring and recovery, one Ford dealer specializing in car loans Salinas is hopeful that the automaker will get out of the red by 2011. That’s a bold goal considering that there is no end in sight for the auto industry’s recovery. In addition, Ford Credit is showing healthy figures, thanks to a $646 million profit in Q2.
While other Big Three automakers are emerging from bankruptcy and starting over, Ford is continuing to make the changes that seem to be yielding results. In an effort to turn things around, Ford has already made dramatic cuts, which has included prominent brands says Denver Auto Loans. In the coming months, consumers can expect more changes to come to Ford via the automaker’s lineup as well.
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Ford appears to be weathering the decline in auto sales relatively well. Stay tuned for more.
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