Riding on strong sales of the Fiesta and a redesigned Taurus, Ford turned in its best annual profit since 1999 last year.In the U.S., CEO Alan Mulally shuttered Ford’s Mercury division, completed the sale of Volvo, divested its Mazda shares, and saw sales jump 17%. Next up: a big boost to Lincoln — Ford’s last premium brand — as seven new models are planned in the next four years. Outside the U.S., the automaker delivered robust sales in India, Russia, and Eastern Europe.
After trading as low as $1.43 a year ago, Ford shares are now around $15. —P.N.