Won “Business Turnaround of the Year” from American Business Awards
Full-year 2010 net income highest in more than a decade
Adding 7,000 new hourly and salaried jobs in the U.S. between 2011 and 2012
Exploring how automobiles can provide economic opportunities for rural communities in India
Building upon our 2009 momentum, Ford’s financial health improved dramatically in 2010 after several challenging years. Our full-year 2010 net income was our highest in more than a decade, as strong products and new investments fueled improvements in all of our global operations. And, we achieved positive Automotive gross cash net of debt earlier than we anticipated.
Our 2010 financial results exceeded our expectations, accelerating our transition from a company working to fix the very fundamentals of our business to a company focused on delivering profitable growth for all. We have emerged from one of our darkest periods and today are continuing to invest in an unprecedented volume of new products, cutting-edge technologies and manufacturing growth across all of our markets.
We have been able to gain market share and make tremendous financial progress by steadfastly sticking to our “ONE Ford” plan. Our vision is one of profitability for all. In other words, when we have a good year, so do our suppliers, our dealers, our shareholders, our employees and our communities.
By staying focused, we have been able to deliver to our customers a full range of vehicles with outstanding fuel economy and exciting new technology at affordable prices. Our incoming vehicle models, for example, are getting better fuel efficiency than their outgoing model counterparts – for each and every vehicle line. At the same time, adhering to the ONE Ford plan has allowed us to advance our sustainability strategy – and simultaneously propel the Company forward.
At Ford, sustainability is at the heart of our business. We have thoroughly linked our Company’s economic health to the environmental health of our planet and to the broader social health of the communities in which we operate. Our sustainability strategy is woven through our overall ONE Ford business strategy.
Our sustainability efforts in the early to mid 2000s – both internally and in our work with external stakeholders – set the stage for our Company to respond quickly with new products when skyrocketing fuel prices changed markets virtually overnight. Today, we continue to track and address emerging strategic sustainability issues, from global water availability to the sourcing of conflict minerals, that impact the development and manufacture of new products.
Our sustainability strategy calls for the introduction of a range of global environmental technologies that will offer consumers a choice of more fuel-efficient vehicles that emit fewer greenhouse gases – without compromising on safety, quality or performance. We aim to make our vehicles greener, safer and smarter.
As we develop new vehicles and technologies, we’re proud to be addressing a number of critical, broader issues that impact us globally, including the availability and affordability of fuel, the electrification of vehicles, the environmental impacts of CO2 emissions, the mobility challenges of emerging markets, and human rights within our supply chain.
Such issues pose tremendous challenges for automakers. But they also promise significant opportunities for Ford as we work toward innovative solutions.
For example, our future competitiveness in emerging markets rests in large part on our ability to meet the challenges of rapidly growing urban locations, where more automobiles on the road equals more congestion. At the same time, we are focusing on innovative solutions for remote regions, where access to vehicles has been extremely limited.
At Ford, we have an opportunity to not only focus on our own balance sheet, but to make meaningful contributions toward economic growth, energy independence and environmental sustainability for all of our stakeholders.
Our ONE Ford plan, which was developed to create a leaner, more efficient global enterprise, is anchored by four key priorities:
- Aggressive restructuring to operate profitably at current demand and changing model mix
- Accelerated development of new products our customers want and value
- Financing the plan and improving our balance sheet
- Working together effectively as one team to leverage our global assets
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