Ford Reports $997 Million Profit as Manufacturing Heats Up

Ford Motor Co. (NYSE: F), the only major U.S. automaker to avoid bankruptcy in 2009, said yesterday (Monday) that an aggressive cost-cutting campaign, improved earnings at its financing arm and market-share gains in North America resulted in a $997 million third-quarter profit - its first operating profit since early 2008.

Ford has now been profitable for two consecutive quarters, a first for Chief Executive Officer Alan Mulally, who kept Ford out of bankruptcy as General Motors Co. (OTC: MTLQQ) and Chrysler Group LLC reorganized under Chapter 11 protection earlier this year.