Ford posts first North American profit since 2005.

Ford announced that it received a net income of $997 million (£612m) for the third quarter of 2009, an improvement of $1.2 billion compared to the same period of 2008, and Ford’s first pre-tax operating profit since Q1 2008.

The Q3 results have provided Ford with even more reasons to be optimistic about the future as it has posted its first pre-tax operating profit since 2005.

In its third quarter statement, the car manufacturer said it now expects to be “solidly profitable” in 2011.

Other highlights in Fords Q3 results include the top positioning of its Focus and Escape models in the US government’s ‘Cash for Clunkers’ (scrappage) scheme, which received overwhelming support over the summer.

Unlike its rivals General Motors (GM) and Chrysler, Ford has managed to evade a US government bailout.

Despite reporting a rise in net profit, the American carmaker said its third quarter revenue was down $800m to $30.9bn compared to the same period in 2008.

Ford President and CEO Alan Mulally commented that this latest set of results demonstrates that Ford is moving in the right direction despite the ongoing economic slump.

Mr Mulally said: “Our solid product line-up is leading the way in all markets. While we still face a challenging road ahead, our One Ford transformation plan is working and our underlying business continues to grow stronger.”

In Europe, Ford has also seen its market share receive a boost. It has increased by 0.6% to 9.2% for the third quarter, its highest third quarter level in 10 years.

Sales in China also recorded substantial growth as they increased six-fold.