For the past few years, Ford Motor Co. has tried to build a business in the face of declining sales, increasing fuel prices and rapidly changing consumer demands.

At times, industry observers questioned whether the Dearborn, Michigan-based automaker would be forced to go the way of its U.S. counterparts by filing for bankruptcy protection or taking federal government bailouts to keep the company afloat.

But Ford, the only Big Three automaker not to accept federal funds in the wake of the recession, has gained market share in the United States in seven of the past eight months.

And it has posted a surprise $2.3 billion second quarter profit.

On Tuesday, Ford unveiled its 2010 product lineup, which includes the return of the Taurus sedan, a restyled Ford Flex crossover with its patented EcoBoost engine, a high-performance version of its popular F-150 pickup truck, and restyled Lincoln MKS and MKT vehicles.

On his blog, www.autoextremist.com, Detroit-based automotive industry analyst Peter DeLorenzo wrote about Ford’s unveiling of its product mix to a group of automotive journalists.

“It became quickly apparent to everyone that this company is more than just on the move, they are aggressively boosting their presence in the market with an array of impressive products that will transform the company,” DeLorenzo wrote. “Over the next 18 months, Ford will have the freshest, most contemporary lineup in the business and the newest fleet of vehicles — in terms of age — on the road.”

That product lineup “is going to pay off big-time” for Ford, DeLorenzo wrote.

On Wednesday, DeLorenzo told Business First that he believes consumers will be “really impressed with the depth and breadth” of Ford’s product lineup.

Ford executive confident in turnaround plan

That praise is very welcome to Ford executives, who have worked the past couple of years to design technologically innovative, stylish vehicles that have the right amount of power but are easy on fuel.

They also have scaled back manufacturing operations to align supply with demand and have taken steps to create a global manufacturing platform that will allow the company to use common technology and suppliers for vehicle offerings worldwide.

On Thursday, Ford reported that it had a profit of $2.3 billion in the second quarter, compared with a loss of $8.7 billion a year earlier.

The profit was primarily a result of debt-service reduction and other spending cuts.

Revenue for the period declined 40 percent, to $27.2 billion from $41.1 billion a year earlier.

During a visit to Louisville, Kentucky, Wednesday, Joe Hinrichs, vice president of global manufacturing and labor affairs for Ford, said he and other Ford officials are encouraged by the pace and success of the company’s restructuring.

“We feel good about our product platform and where we are at this point,” Hinrichs said.

Ford and its competitors must aim at a moving target in trying to figure out what will sell. Consumer demands shift continuously, depending on the state of the economy and changes in fuel prices.

Hinrichs said successful car companies of the future will have a more “compartmentalized” product lineup than they have had in the past.

“The days of selling 400,000 or 500,000 units of any vehicle, except maybe the F-150, are over,” Hinrichs said. “Now we need to figure out how to make the same money selling lower volumes. The best way to do that is to go after a number of smaller niches.”