DEARBORN, Mich. (AP) – Ford Motor Co.’s net income more than doubled to $1.9 billion in the third quarter on strong sales of its new F-150 pickup truck.
Ford reported record results in North America, where it earned $2.7 billion. Its sales in the region jumped 16 percent as it cranked up production and sales of the new aluminum-sided pickup.
The automaker’s overall sales rose 7 percent to 1.6 million. It lost money in Europe, South America and the Middle East but eked out a small profit in Asia.
Ford’s profit, of 48 cents per share, compared with a profit of 27 cents in the same quarter a year ago.
Excluding one-time items, Ford earned 45 cents per share, falling short of the 46-cent profit forecast by Wall Street, according to analysts surveyed by FactSet.