Ford expects sales to increase by 50 percent by 2014

Ford said its operating margin globally to go up from 6.1 percent in 2010 to 8 or 9 percent. In North America, the company said the margin would between 8-10 percent.

The status of the auto companies has emerged as a political flashpoint recently as Democrats have looked for signs of economic growth to defend President Obama's record heading into the 2012 election. Earlier Tuesday, President Obama use the recent news auto industry to provide evidence the country wasn't facing a double-dip recession.

Democrats have also criticized Republicans for initially opposing the bailouts to the car companies, which began under former Preisdent George W. Bush, but were managed by Obama. A frequent target has been Republican Presidential candidate Mitt Romney, who famously penned a New York Times op-ed titled "Let Detroit Go Bankrupt" in 2008. 

Romney has defended the article, saying he was suggesting a structured bankruptcy that was very similar to what ended up happening with Chrysler and GM.