Ford Posts First Annual Profit in Four Years

Ford Motor Co. said Thursday it posted its first profit in four year, earning $2.7 billion and ending three straight annual losses.

Fourth-quarter earnings were $868 million, or 25 cents a share, compared with a year-earlier net loss of $5.98 billion, or $2.51, Ford said, in marking its first profitable year since 2005.

Sales rose 22% to $35.4 billion as Ford boosted its North American production 33%.

Ford also forecast a pretax operating profit for 2010 as Chief Executive Officer Alan Mulally touted the company’s recovery plan, Bloomberg reported.

Separately, Ford said it suspended production of a full-size commercial van as part of a venture it operates in China, due to the involvement of a supplier involved in a Toyota Motor Corp. recall.

Mulally told analysts Thursday he believed any incidents in the vans were isolated, involving less than 2,000 vehicles in China, Bloomberg reported.

Toyota on Tuesday suspended U.S. sales of eight automobile models with pedals made by supplier CTS Corp. over reports the pedals could stick.