Ford, the only Detroit automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of nearly $1 billion in the third quarter and forecast a "solidly profitable" 2011.

The automaker said Nov. 2 earnings were fueled by U.S. market share gains, cost cuts and the "Cash for Clunkers" program, which drew flocks of buyers to showrooms this summer.

The latest results signal that Ford's turnaround is on more solid ground. The company lost more than $14.6 billion last year and hasn't posted a full-year profit since 2005.

Ford, based in Dearborn, Michigan, reported third-quarter net income of $997 million.

The earnings came despite an $800 million revenue drop. But Ford said it cut costs by $1 billion during the quarter, accomplished through layoffs in North America and Europe, reduced pension and retiree health-care costs, and improvements in productivity and product development.