Mulally says investment in new models turning tide for company

SOUTHFIELD, Michigan: Ford Motor Co Chief Executive Officer Alan Mulally said investments in the company's car lineup and efforts to pay back debt are helping the automaker make "tremendous progress" in its turnaround effort.

"During this worst recession, we chose to increase our investment in new vehicles that people want and value," he said in an interview from the Consumer Electronics Show in Las Vegas. "Now we are delivering on that product promise, and we're actually paying the loans back and improving our balance sheet."