Ford Posts $2.1 Billion Profit

Ford posted a $2.1 billion profit for this quarter, beating market expectations by a full year despite a lull in the new vehicle market. Ford has undergone a series of cost-cutting measures, including plant closures and layoffs, but has also introduced a torrent of new product in nearly every segment.

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Ford Sales Up 33% in December, Market Share Increased in 2009

Ford ended 2009 with its highest sales month since May 2008 while gaining its first year-end market share gain since 1995.

Sales were up in every product category in December 2009 as Ford recorded a 33 percent sales increase compared to the same month in 2008.

Ford, Lincoln and Mercury sales totaled 179,017 in December. Full-year sales totaled 1.62 million, down 15 percent, but Ford estimates it still managed to increase its U.S. market share by a percentage point to 15 percent, representing Ford’s first full-year market share gain since 1995.

“Ford’s plan is working,” said Ken Czubay, Ford vice president, U.S. Marketing Sales and Service. “Customer consideration continues to grow for our high-quality, fuel-efficient vehicles. In 2010, we will introduce an even higher number of new products, giving customers more reasons to Drive One.”

The Ford Fusion, recently named Motor Trend’s Car of the Year, set a new full-year sales record at 180,671 units. Sales for the Ford Escape reached 173,044 units in 2009 for the crossover’s second-best year, including a 75 percent increase in December compared to 2008.

Ford’s F-Series truck had its best sales month since March 2008 with 48,209 units moving in December. The year-end tally of 413,625 units made the F-Series America’s best selling truck for the 33rd straight year, and top-selling vehicle, car or truck, for a 28th consecutive year.

Official release after the jump:

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2010 North American Car & Truck of the Year Nominees Announced

We still have more than half of 2009 to go and already the list of 2010 North American Car & Truck of the Year nominees have been picked. That’s because the list is essentially a list of every new model for 2010.

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Buying American: It's In the Numbers (and Letters)

During President Obama’s press conference last week when he announced that Chrylser would file for Chapter 11, he asked Americans that if they were looking to buy a car, to look at American cars. The “buy American” philosophy drew harsh criticism from the American International Automobile Dealers Association (AIADA), which pointed out that buying American doesn’t necessarily mean buying a car from an American brand.

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