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Detroit, United States,- After showing a deficit for three years, Ford Motor Co informed today that in the third quarter of this year they obtained net benefits for US$997 million and US$1.1 billion operation results, their first surplus since the beginning of 2008. In the third quarter of 2008, the Group posted a net loss amounting to US$129 million, and operation loss before taxes of US$2.7 billion, per a press release from the Company.
These results are way above market expectations, which anticipated a net loss of 12 cents per share, while Ford posted 29 cents per share benefit.
Good results are due to better sales, especially in the United States, as well as a significant costs cut down. This cut down amounted to One Billion Dollars to total US$4.6 billion in the first months of the year. The figure is higher than the Group’s goals (US$4 billion).
“Our results in the third quarter clearly show that Ford is making outstanding progress in spite of the recession in the world economy”, Alan Mulally the Company’s President declared.