"But Ford said it cut costs by $1 billion during the quarter, accomplished through layoffs in North America and Europe, reduced pension and retiree health care costs and improvements in productivity and product development."
So Ford, the only US automaker that wasn't deeply in trouble did better in the third quarter thanks to laying off a bunch of people and sucking at the government teat. Let's see how they do this quarter now that the bloodsucking Cash for Clunkers program is no more.
I also predict that Ford is wrong that 2011 being better, especially as more and more companies lay people off in order to cut costs and we start experiencing hyperinflation from all the money printing and credit availability shuts down because no one is willing to lend to us. But did you really expect Ford to say they thought sales were going to drop off precipitously now that the government is subsidizing the sales of new vehicles even if they know that it's true? You don't encourage people to buy your stock by predicting doom for your industry. Duh!