Ford Motor yesterday offered a rare ray of hope for a car industry in the doldrums by reporting that it had made a $1bn profit in the third quarter. The carmaker also reported its North American arm returning to profitability after four-and-a-half years and raised its official view on its outlook, saying it was on course to be "solidly profitable" by 2011.

Ford, the only one of the US's big three carmakers to avoid bankruptcy this year, was aided by cost-cutting, increased market share and US government-sponsored incentives.