Ford posts stronger quarterly results

But America's second-largest car maker lowered the top end of its forecasted range for US car industry sales for 2010, citing in part a slow but sustainable recovery in the American economy.

Chief executive Alan Mulally said: "We delivered a very strong second quarter and first half of 2010 and are ahead of where we thought we would be despite the still-challenging business conditions."

Chief financial officer Lewis Booth said: "I'd say the consumer is still a little bit skittish, but I'd say July is off to a better start."

Second-quarter net profit rose to $2.6bn from $2.26bn a year earlier, while revenue lifted by $4.5 billion to $31.3bn.

Helped by brisk sales of the Ford Fusion and F-150 pick-up truck, Ford has gained market share in the US from Toyota, which was hurt by a series of safety recalls, and General Motors and Chrysler, which were tainted in some buyers' eyes for accepting federal bailout money last year.

Ford has posted four consecutive quarters of operating profits, despite a severe downturn that pushed US car industry sales to their lowest levels since the early 1980s.

The firm, the only large US car maker to avoid bankruptcy in 2009, borrowed more than $23bn in 2006 to fund its turnaround, leaving it with a heavier debt load than its rivals.