Motoring: Ford posts best annual profit in 10 years

Ford Motor Co. announced today that they  had the best annual profit in 10 years. Ford earned $6.6 billion, or a $1.66 share, in 2010. That compared to a profit of $2.7 billion, or 86 cents a share, in 2009. Revenue rose 4% to $120.9 billion.

"Our 2010 results exceeded our expectations, accelerating our transition from fixing the business fundamentals to delivering profitable growth for all," said Alan Mulally, Ford's chief executive. "We are investing in an unprecedented amount of products, technology and growth in all regions of the world."

The secret to their success? Cost-cutting, a truly compelling stable of new vehicles and innovation in all areas.