Who would have thought Ford would emerge as one of the most innovative -- and one of the most profitable -- automakers after being declared almost dead three years ago? The stock is well off its recent high and some analysts say that's just wrong.
Ford confirmed reports Wednesday that it will cease making Mercury vehicles later this year, putting a coffin nail in yet another storied American car brand. Production will end in the fourth quarter of 2010.
Anyone looking for proof that the American car industry is back on track need look no further than the $2.1 billion Ford Motor raked in during the first quarter. It was the best quarter the automaker has seen in six years, and based on the results, the Dearborn, Mich.-based company "now expects to deliver solid profits this year," it said Tuesday.
As the economy continues to improve and consumers once again venture out to showrooms, Ford appears to have benefited more than most automakers from rising industry sales. Analysts expect it to earn 31 cents on revenues of $28 billion.
The carmaker's chief gives an upbeat assessment of how the company's overhaul is progressing. He also lays out Ford's plans to deliver the greener cars that buyers seek -- and what lawmakers need to do to promote Americans' switch to cleaner vehicles.
