By Matthew DeBord
Ford reported third quarter earnings on Tuesday.
They were slightly lower than analysts expectations. The company earned $0.45 per share. Analysts surveyed by Bloomberg were expecting $0.47 per share.
Revenue was $38.1 billion.
Higher taxes cut into Ford’s profit for the quarter, Reuters reported.
Ford posted its best-ever quarter in North America, driven by sales of the F-150 full-size pickup, which was redesigned to use more lightweight aluminum in its construction.
There were issues with supply of the new truck that weighed on Ford sales earlier in the year. But in the third quarter, the car maker delivered over 207,000 pickups.
The auto market in the US has been booming. It’s on a pace to see 17.5 million in new vehicle sales by December.
“We are delivering a breakthrough year,” said CEO Mark Fields in a statement.
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