Ford is definitely the model minority of the the Domestic automakers. It is the only one to not seek government aid and the only one that has shown progress in restructuring efforts without said aid. To add to this, in its annual meeting with 98 of its shareholders, Ford said that it expects to be profitable in as early as 2011.

The automaker said that its shareholders have has also approved the company’s funding plan for a healthcare trust for UAW retirees. In regards to its extensive dealership network, CEO Alan Mulally said the company has an incredible dealer network and would continue to address excess capacity in urban areas. Currently, General Motors and Chrysler have plans to close down hundreds of their dealerships.

Executive Chairman Bill Ford said that the current industry environment is the worst and toughest he’s seen in his three decades in the business.

“We are confident that we will not only survive this downturn, but that we will emerge as a lean, globally integrated company poised for long-term profitable growth,” Mulally told the 98 shareholders.

Despite industry woes, Ford has seen stability in its retail market share.

Source: Reuters

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