The quarterly profit coincided with the US government's "cash for clunkers" scheme, which provided a taxpayer subsidy for drivers who traded in their old vehicle for a more fuel-efficient new car. "Ford is making tremendous progress despite the prolonged slump in the global economy ... While we still face a challenging road ahead, our transformation plan is working and our underlying business continues to grow stronger." He refused to give a short-term profit forecast, declining to update guidance for next year, but promised that the company would manage "solid profitability" in 2011, instead of the "break-even or better" mantra of the past several months. Full Article at New Zealand Herald