Bill Pierre Ford

Ford Motor Co has room for steady growth in its share of the North American and European auto markets, Chief Executive Alan Mulally said on Wednesday.

Ford, the only large U.S. automaker not to reorganize in 2009 under a government-supported bankruptcy, has increased its market share in the United States this year as rivals General Motors Co GM.UL and Chrysler stumbled toward bankruptcy.

As Ford continues to bring on small and mid-sized vehicles “I think we have room to grow, profitably of course, in the United States,” Mulally said in a meeting with industry analysts that was webcast.

Ford also has room to grow in Russia and Europe, he said.

“Two very large mature markets, so growth will be steady, but not real dramatic,” Mulally said of the U.S. and Europe. “If you look at Asia-Pacific we have a lot of room to grow.”

Ford, which has posted losses totaling about $30 billion for the years 2006 through 2008, expects to be at least break-even in 2011 consistent with a gradual recovery in the economy that would also bring an increase in industry sales.

The automaker expects U.S. auto industry sales to slump in September to levels seen earlier in 2009 with the U.S. government “cash for clunkers” incentive program exhausted.

Mark Fields, Ford’s president of the Americas, said he expected September U.S. auto industry sales to range from an annualized rate of 9 million to 9.5 million vehicles.

Ford typically includes medium and heavy duty trucks in its U.S. auto industry sales forecasts.

The Car Allowance Rebate System (CARS) was signed into law by President Obama on June 26 . Under the CARS program, also called the “cash for clunkers” bill, your older car may qualify for a vehicle voucher worth thousands of dollars on a more fuel-efficient new car. The program should begin around July 23 and is available until November 1, 2009.

Here are some answers to common questions about the CARS program. You can use the tools on AutoTrader.com to help you find the right high-MPG vehicle to make the most of the “cash for clunkers” law.