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Ford Motor Company reported record earnings in 1994, or $5.31 billion, more than double its profits last year. American automakers all benefited from a stronger economy, as each of the Big Three enjoyed their best years since 1988. TIME Detroit correspondent Joe Szczesny reports that Ford "remains optimistic about the coming year, despite predictions of turbulence in the economy." Officials credit car and truck sales and financial services offered by the company for the gain.