2011 ford explorer

Not only did Ford(F) bust past Wall Street estimates on Friday, but the automaker also reinforced its commitment to pay down debt
By the end of 2011, Ford said, it expects to move from an automotive net debt position to a net cash position — in other words, it will have more cash than debt. “It’s clearly a really positive development,” said CEO Alan Mulally, on the earnings conference call Friday. “We will be able to continue to improve the balance sheet and pay down debt.”
Ford ended the quarter with $21.9 billion of automotive gross cash and automotive debt of $27.3 billion, after retiring $7 billion of debt during the quarter. As Mulally has said previously, the best way to address the issue that the company has more debt than its competitors is to produce profits. Ford made $2.6 billion in the quarter.
The company also plans to unveil the new 2011 Ford Explorer later this morning, a new-generation SUV that, less boxy-looking than its predecessor, will feature a V6, 290-horsepower engine that’s expected to deliver 20% better fuel economy than the 2010 model.
source:(TheStreet)