Ford Motor Company Reports $2.7 Billion Profit for 2009

Ford Motor Co. reported Thursday it earned a $2.7-billion profit for 2009, its first profit in four years that came during one of the worst years in decades for global vehicle sales and auto company profits. The past year’s performance led Ford to boldly declare it plans to be profitable for all of 2010. Ford’s previous plan called for not being profitable until 2011.

“While we still face significant business environment challenges ahead, 2009 was a pivotal year for Ford and the strongest proof yet that our One Ford plan is working and that we are forging a path toward profitable growth by working together as one team, leveraging our global scale,” Ford President and CEO Alan Mulally said in a statement released Thursday morning.

“In every part of the world, we are providing customers with great products, building a stronger business and contributing to a better world,” he added. “Our progress has helped us gain market share in most of our major markets.”

Indeed, Ford’s fortunes have vastly improved, largely because the company has tackled the basics: building and selling vehicles buyers want, enabling Ford to boost sales and gain market share, commanding higher prices and collecting higher profit margins against the backdrop of a reduced cost structure.