Ford Motor, the only one of the Detroit Big Three to avoid a government-supported bankruptcy, continued its rebound with third-quarter net income up 68%. Profit was driven by a bigger U.S. market share and buyers spending more loading up its cars and trucks with options.
It was Ford’s best third quarter in its 107-year history, according to Bloomberg News, and its sixth straight quarter in the black.
Ford CEO Alan Mulally said new cars, such as the Ford Fiesta subcompact and Ford Edge crossover, and aggressive cost-cutting helped the company make money despite lower global sales.
Full story: No-bailout Ford on turnaround roll: 3rd-quarter profit up 68% – USATODAY.com