The Auto Writer

The Ford Motor Company released stunning news on Monday, revealing that its third quarter profit rose by nearly one billion dollars, far higher than what analysts had been expecting, marking the automaker’s first pre-tax profit since the first quarter of 2008.

Ford Stands Tall

Notably, Ford made money without federal government bail out assistance, avoiding the same fate of General Motors and Chrysler who received taxpayer support, declared bankruptcy and have emerged as smaller players, particularly in the US marketplace.

Ford’s North American business reported a profit of $357 million as Asia/Africa, Europe and South America also proved profitable. Ford hadn’t seen a profit for its North American operation since the first quarter of 2005, crediting reduction of automotive structural costs with helping push its business into the black. By turning a profit, Ford also halted its cash bleed which has been threatening the automaker for the past several years.

One Ford

Ford President and CEO Alan Mulally was pleased by the results sharing his thoughts in the company’s news release detailing the automaker’s success. “Our third quarter results clearly show that Ford is making tremendous progress despite the prolonged slump in the global economy. Our solid product lineup is leading the way in all markets. While we still face a challenging road ahead, our One Ford transformation plan is working and our underlying business continues to grow stronger.”

Indeed, the “One Ford” plan is just now beginning to be felt with the Ford Transit Connect the first of six European designed and built cars hitting the North American market. Ford is nearing the roll out of the Fiesta and will follow that subcompact up with an all new compact Focus later on in 2010. In addition, Ford plans on bringing the C-MAX to the market, joining two other models by 2011 or 2012.

Newest Products

Ford is also benefiting from a quick changeover in its product line which has helped to bolster sales. Among the all new products for 2009 was its popular F-Series truck line and Lincoln MKS full size sedan. For 2010, the Ford Mustang, Fusion and Taurus are all new with a new hybrid model joining the Fusion line. Additionally, the Lincoln MKT crossover has hit the market, while EcoBoost technology is now available.

Ford is introducing new models at one of the fastest paces of all car makers, including a number of Asian brands who routinely update their model lines every four or five years. Conversely, GM’s new products are performing fairly well while Chrysler has to make do with only modest changes including the recent release of super duty trucks under the Dodge Ram brand.

See Also: Fusion 41 and Ford Social Media Strategy