Ford says its automotive pre-tax profit was $1.3 billion, which is $45 million higher than Q3 2010. Positive cash flow was 400 million, and the company reduced its long-term debt by $1.3 billion. Ford has $20.8 billion in cash at hand, $1.2 billion less than the second quarter of this year.
The company continues to show moderate profit in a slow auto market recovery, while spending significantly on new models.
“We remain well on track to deliver improved full year pre-tax operating profit and Automotive operating-related cash flow, consistent with our guidance,” Booth, Ford’s chief financial officer, said in a prepared statement. “Our liquidity remains strong, and we will continue to take actions when appropriate to strengthen our balance sheet.”
Source: Motor Trend






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