Ford Motor sustained its dramatic turnround in the third quarter, reporting unexpectedly strong earnings and saying that it would be free of net debt by the end of this year.
Detroit’s number-two carmaker – the only one to avoid a US government bail-out – reported net earnings of $1.7bn, or 43 cents a share, up from $690m, or 14 cents a share, a year earlier.
Alan Mulally, chief executive, said he expected solid results in the fourth quarter and a further improvement in 2011 in spite of challenging business conditions and higher costs.
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