$1.3 billion net profit for Ford in Q3

Ford reported $1.3 billion in net profits for quarter 3 of this year. This profit was driven by continued strong sales in North America and less losses in Europe. The net income is down from last year by $359 million but is still a good showing for the American automobile maker.

Automotive sales for ford rose 12% this year to $33.9 billion. Much of this progress is attributed to CEO Alan Mulally. Mr. Mulally has turned Ford's North American operations around, broadening their lineup and adding more competitive cars. He also plans to develop identical cars all around the world. So far Ford has seen great success in China with their focus which has become the top selling car name. Shares of Ford have risen 35% this year.

shares have risen 35% this year. compared to the S&P at 22% rise this year. results show continued progress in Mulally's repair of the company since he left boeing co. in 2006.

“The heavy lifting has been done in North America, they’re working through their issues in Europe, and the China growth strategy is in place,” said Michael Razewski, a New York-based principal at Douglas C. Lane & Associates, which oversees $3.4 billion including Ford shares. “This isn’t necessarily a business that needs to be transformed anymore.”

The company expects profit margins to be higher than last year.