USA Today: Detroit comeback?: Ford, GM profits both top Toyota

[Omaha Steve]

http://content.usatoday.com/communities/driveon/post/2010/11/us-comeback-ford-gm-profits-both-toptoyota/1

General Motors earning bigger profits than Toyota? Sounds like 1980, not 2010. But it's happening.

Of course, Ford is out in front of both of them. But it was only two years ago that the notion of Toyota being stopped on its march to the top of the automotive heap looked inevitable. By contrast, Ford, General Motors and Chrysler were Detroit basket cases.

Now, GM has reported third-quarter net income of $2.2 billion, bringing its earnings this year to $4.8 billion. Bloomberg makes the comparison that shows it is well above the $4.5 billion profit by Toyota. And Ford has hit it out of the park: $6.4 billion in the nine months ended Sept. 30, already more than doubling last year's profit of $2.7 billion. Honda Motor Co.'s $5.3 billion in profit is the second-highest this year.

GM and Chrysler reorganized through bankruptcy, dramatically cutting their costs. Ford has seen higher sales from consumers who appreciate that they didn't take federal bailouts, and it, too, was able to lower its costs by pleading with the United Auto Workers union. All that was bad enough for Toyota, but a year of its safety and quality nightmares has taken a heavy toll on sales, as well as reputation.

Who would have ever guessed.

[blue_onyx]

1. Yes

And it will be Republicans, who will control MI starting next year, that will try to take credit for the work of Democrats.

[sufrommich]

2. One can hope, and I hope we're seeing the start of the end

of the Great Michigan Depression.