Ford on the road to success, says chief

• Source: Shanghai Daily
• [08:38 September 28 2010]
• Comments

Ford will be cash-flow positive and see improved overall performance next year after solid earnings in 2010, its Chief Executive Alan Mulally said Monday.

Ford, the only large United States auto maker to avoid bankruptcy during the financial crisis, will intensify its focus on smaller, greener models and continue to streamline its product line, said Mulally in a lecture in London, held by Britain's business body the CBI.

Credit Suisse last week said Ford could see earnings decline to $1.40 a share in 2011 - after growing to $1.71 in 2010 - due to higher material and structural costs, as well as burgeoning pensions expenses.

"All the fundamentals are moving in the right direction," Mulally said, although he acknowledged the wider economy was slowing after a period of recovery.