From Weasel Zippers:
Americans are buying cars/trucks from American owned businesses, not America-owned businesses . . . Booth said Ford Motor Credit will remain profitable this year although it will be lower than the 2009 results.
"Our receivables will take a substantial hit in 2010 as the industry continues to downsize and we are rolling off receivables from Jaguar, Land Rover and Volvo," Booth said.
Net income for the fourth-quarter was $868 million, or 25 cents a share compared with a loss of $5.98 billion, or $2.51 a share. Excluding items, the company reported a 43-cent earnings-per-share profit, exceeding the Thomson-Reuters analyst estimate of 26 cents a share. The auto maker's fourth-quarter revenue was $35.4 billion.
Ford's full-year 2009 profit was $2.7 billion, compared with a loss of $14.7 billion the previous year. Revenue for the full-year was $118.3 billion.