Financial statements have recently been released by Ford showing more than $2 billion in profit in the last three months, but consumers considering used cars in New York may notice that General Motors is still struggling heavily.
It’s a tale of two sides of the government’s efforts to save the Big Three, and right now Ford is looking better after posting a profit in the second quarter of this year, using restructuring tactics to offset the loss of $1 billion in cashflow, according to the Detroit Free Press.
Alan Mulally, Ford president and CEO, told the news provider that he still plans to be cautious in the recovery, and doesn’t expect to post real profits and improve cashflow for the next 18 months, reported the news provider.
The “green shoots” aren’t so strong at General Motors, which saw sales drop by 15 percent worldwide in the same period compared to second quarter figures in 2008, limited only by success in the Chinese market that has seen remarkable growth, noted the Business Courier.