In a recent press release, Ford published their third quarter results and it seems the Blue Oval has reasons to be proud of itself.
This is the sixth consecutive quarter the company makes a profit in. Furthermore this time the Dearborn based company managed a net income of $ 1.7 billion which is the sort of sum that sets records.
Ford is no exception, this is the company’s largest quarterly profit since 1990 and by a considerable margin.
Naturally, business thinking leads to a desire to invest the profit back into the company. To this extent, Ford will be increasing production for the fourth quarter by 20.000 units.
Another big chunk of the cash that came into Ford will be going towards repaying the debts the Blue Oval has over head. Initially, Ford claimed that they will be paying back their debts by the end of 2011 but with recent results that are so much more than they predicted the company has set itself a new goal. The Americans over at Ford plan to do away with their debt by the end of this year now.
Achievable feat and while the figures posted this quarter back Ford up but there is that nagging feel that this result is somewhat related to the fact that Volvo is now out of the picture.