Although the earnings were mainly due to restructuring debt and not a surge in auto sales, the only company among the Big Three to turn down a federal bailout said it is on track to at least break even in 2011. Unlike GM and Chrysler, Ford also avoided bankruptcy.
"For is on a roll right now," he added. "Ford is on a roll like they have not seen for decades."
Without the debt shuffling, Ford posted a loss. But the red ink was less than analysts expected, and far better than the same quarteer a year ago, when the company lostt $2.7 billion. Sales dropped to $27.2 billion in the quarter, from $38.2 billion a year earlier.