Ford catches market off guard with profit close to $1 billion

11/3/2009 | CNNMoney · Detroit Free Press

Ford Motor, the only U.S. automaker that did not seek bankruptcy protection, surprised analysts with a third-quarter profit of $997 million. The company said it intends to raise $3 billion in public capital markets to strengthen its financial condition. Ford benefited from the government's "Cash for Clunkers," rebates, cost-cutting measures and market share gained after General Motors and Chrysler went bankrupt. At the same time, it gained market share faster than Japanese competitors Honda Motor and Toyota Motor.

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CNNMoney · Detroit Free Press

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