Ford in good position

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http://www.news.com.au/business/stor...-31037,00.html

FORD Motor Company is in "really good shape" despite the turmoil facing the car industry, chief executive officer Alan Mulally said in the US overnight.
"We have sized ourselves so we are competitive and we can be profitable,'' Mr Mulally said on the sidelines of an economic summit in Detroit, Michigan.

Mr Mulally said that while Ford's improved products have been driving its sales, it may have also benefited somewhat from the fact that rivals General Motors and Chrysler were forced to seek bankruptcy protection.

"People also want to know they're with a company that is viable and is here for the long term,'' he said.

Unlike GM and Chrysler, Ford has managed to restructure its business and slash structural costs without having to borrow billions from the Government. Ford obtained a massive credit line shortly before the credit markets froze late last year and entered the current downturn with substantial liquidity.

"We're in really good shape with the balance sheet where we are now as soon as we get back to profitability and positive cash flow in 2011 then well accelerate improvements to the balance sheet,'' Mr Mulally said.

Mr Mulally said he has "a lot of compassion for what our competitors are going through'' and said the Government's decision to provide support to GM and Chrysler was the right thing to do in order to avoid an economic calamity.

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Thats good news. Now lets sort out FORD Australia's marketting Dept and sales should improve here.