Ford Posts $2.7 Billion in Profit - Without Taxpayer Help

Ford Motor Co. made $2.7 billion in 2009, its first annual profit in four years.

The automaker on Thursday also forecast a full-year profit in 2010. Earlier it had only promised to be "solidly profitable" in 2011.

Ford benefited from cost-cutting, a $696 million profit in its credit arm and popular cars and trucks like the Ford Fusion midsize sedan and Ford Escape small sport utility vehicle. It gained market share in North and South America and Europe, despite the worst U.S. sales climate in 30 years.

"While we still face significant business environment challenges ahead, 2009 was a pivotal year for Ford," Ford CEO Alan Mulally said in a statement. - ABC News Story