This morning, Ford reported a $2.6 billion profit. It's the highest gain in six years for the American automaker. Sales are up. Some companies like Chrysler are projecting that they will end this quarter in the black -- and are expanding plants where, in 2008, they laid off a thousand workers.
This is big news for an industry which required massive government support to avoid bankruptcy less than two years ago.
Paul Eisenstein, publisher of The Detroit Bureau, says that the car companies have been rebuilding their audience by expanding overseas, (China now has larger GM sales volume than the U.S., Eisenstein says), becoming much smaller, and introducing new and appealing lineups. One survey says Detroit is now topping the "ideal vehicle list," for the first time in years. -- The Takeaway