Ford chief executive Alan Mulally said improvement in the economy globally and a strong new vehicle lineup gave him confidence in expecting a “continuing improvement” in 2011. “It’s a slow gradual recovery, especially in the United States, but very solid fundamentally,” Mulally said.
In April, Ford said it expects a solid pre-tax profit in 2010 excluding special items. Its previous forecast was 2011 profit on that basis. The automaker posted losses of $30bn from 2006 to 2008.
The automaker’s stock price has quintupled since the end of 2008, but the dividend was eliminated in 2006.