View Full Version : Ford shows a profit!
Inspite of recent woes, and a doubt that their new CEO's plans have had time to take full effect the SMH reports (http://www.smh.com.au/articles/2007/07/26/1185339167888.html?sssdmh=dm16.270980) that they have managed to produce a US$750m 2nd quarter profit.
Lets Gekiga In
07-27-2007, 04:55 AM
It's about time.
So is Jaguar and Land Rover officially sold off, or is that still up in the air? If they're sold off, I'm not too surprised that they finally turned a profit.
Edit: Also the sale of Aston Martin probably helped.
Matra et Alpine
07-27-2007, 05:13 AM
$200M from A-M sale.
There seems to be another approx $400M savings which still leaves them having accried about $150M from core operations. So does look as if they've achieved something.
Not yet had a chance to go through all the finances to see if they perhaps have backed out Jag L-R losses :D
Lets Gekiga In
07-27-2007, 05:28 AM
I really hope GM digs themselves out of their hole as well.
digitalcraft
07-27-2007, 10:50 AM
I think GM needs to make some big changes in their brands before that will happen. Chevrolet what?
matek
07-27-2007, 01:02 PM
Isn't Volvo suposed to be bought by BMW??? from the last time read leftlane there was talks of that in the air???
ScionDriver
07-27-2007, 02:02 PM
I read this in the Wall Street Journal this morning but according to what I saw Ford is saying that they still expect losses in the remaining quarters of this year and that a return to a full-year of profit shouldn't be expected until 2008.
Ferrer
07-27-2007, 02:19 PM
Isn't Volvo suposed to be bought by BMW??? from the last time read leftlane there was talks of that in the air???
BMW wants/ed to buy a front wheel drive manufacturer in order to rentabilise their investment with Mini. Not only Volvo, but there were also rumours of interest in Alfa Romeo. Nothing came out of them, though.
Lets Gekiga In
07-27-2007, 02:41 PM
I think GM needs to make some big changes in their brands before that will happen. Chevrolet what?
Yeah, if I were GM I would sell Saab, discontinue GMC, make Pontiac nothing but RWD cars (at the very least get rid of the G5). That alone should help things.
adrenaline
07-27-2007, 09:13 PM
It's about time.
No, actually, it's a little too soon. The industry wasn't expecting profit until 2008-2009.
Ford still have a hard road in front of them.
Lets Gekiga In
07-27-2007, 10:39 PM
No, actually, it's a little too soon. The industry wasn't expecting profit until 2008-2009.
Ford still have a hard road in front of them.
A little too soon? It's never too soon to be making a profit, especially when a company has been struggling as much as FoMoCo has.
And naturally, I think we all know it isn't going to get any easier. But hey, it's a start.
adrenaline
07-27-2007, 11:14 PM
A little too soon? It's never too soon to be making a profit, especially when a company has been struggling as much as FoMoCo has.
If you followed the auto industry (the American industry in particular) then you would agree that the profit has come too soon. Of course, it is not a bad thing - but it is a lot sooner than expected.
** E D I T **
And naturally, I think we all know it isn't going to get any easier. But hey, it's a start.
Actually with less brands to manage (and the impending offload of Jaguar) things should start to get a little easier for Ford. But they still have a lot to do. Many people who don't know the industry will see a single quarter of profit as the resurrection of FoMoCo - when really, in the bigger picture, it means nothing. NA is still losing money - it was the rest of the Ford world that shifted FoMoCo into the black.
Ferrer
07-28-2007, 01:05 AM
Should Ford sell Ford? :rolleyes:
By the way Maserati also posted its first profit for 17 years. That's really relevant... :)
Rockefella
07-28-2007, 01:14 PM
Yeah, if I were GM I would sell Saab, discontinue GMC, make Pontiac nothing but RWD cars (at the very least get rid of the G5). That alone should help things.
Get rid of GMC? That'd be a dumb move methinks. Most heavy duty work trucks and haulers are GMC branded.
fpv_gtho
07-28-2007, 10:38 PM
What does GMC do that Chevrolet couldnt though? Simply image?
Lets Gekiga In
07-29-2007, 01:32 AM
What does GMC do that Chevrolet couldnt though? Simply image?
Precisely. I mean there is no such thing as a person who picks a GMC Sierra over a Chevrolet Silverado and claims GMC is far superior to a Chevrolet product; or a Chevrolet Colorado over a GMC Canyon and claims Chevrolet is a far superior product to GMC. They aren't really different enough to choose between. The Silverado and Sierra are even the same exact price.
The only reason I think people choose one over the other depends on which dealer happens to be closer to them.
adrenaline
07-29-2007, 03:28 AM
What does GMC do that Chevrolet couldnt though? Simply image?
GMC would have a loyal consumer base. Being primarily a truck brand, they would attract certain types of customers that perhaps Chevrolet could not. If GM dissolve GMC, the GMC consumer would not simply transfer straight to Chevrolet. As long as GMC generate profit there is no logical justification to get rid of the brand.