Ford has recorded a $2.3 billion (£1.39 billion) net profit in the second quarter of 2009.
Ford’s position has been boosted by restructuring its debt and it is the only one of the big three car makers in the US not to enter bankruptcy protection proceedings.
The firm actually lost $424 million (£256 million) on an operating basis in the quarter, but it was lifted into the black thanks to the restructuring of its debt.
In 2008 Ford’s second quarter operating loss was $1 billion (£605million) and its net loss was $8.7 billion (£5.26 billion). Ford said it ended the quarter with $21 billion (£12.7 billion) in gross cash and it was confident of not having to enter bankruptcy protection proceedings.
Ford used $1 billion (£605 million) on an operating basis during the quarter, $2.7 billion less than in the first quarter of this year. Ford said its spending in the second half would be significantly lower than in the first half.