Ford Reports Record 1.7 Billion Q3 Profits

On October 26, 2010 Ford Motor Company reported record third-quarter profits, raised its production forecast and said it will speed up steps to pare debt.

Ford’s $1.7 billion in net income was up from $997 million a year earlier. The company said it will boost fourth-quarter vehicle output in North America by 20,000 units, an increase of 3.5 percent.

Ford overcame a loss in Europe in posting its 6th straight quarterly profit, and CFO Lewis Booth said the automaker will be “solidly profitable” in the current quarter, too.

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