Ford’s revenue rose to $120.9 billion, up $4.6 billion from 2009, even though the company sold off its Volvo brand during the course of the year. Excluding Volvo sales, revenue rose $17 billion, or 15%.

Ford, which recaptured its position as the No. 2 automaker in terms of U.S. sales in 2010, posted a fourth-quarter operating profit of $1.2 billion, or 30 cents a share, excluding special items. That was down from 43 cents a share on that basis a year earlier.