Ford’s profit dips but says US consumers still ‘resilient’

Ford's profits declined slightly in the third quarter, but the company still anticipates profitability to remain comparable to the previous year. The US automaker reported a US$2.0 billion profit, a 16.3% decrease from the previous year, despite strong consumer demand for trucks and large vehicles. Ford's revenues fell 2% to US$49.5 billion, primarily due to lower car sales.

The company has been facing challenges with production due to fires at its major aluminum supplier, Novelis, which caused disruptions in the manufacturing of the F-150 truck and other models. However, Ford chief financial officer Sherry House stated that the situation with Novelis is largely resolved, and the costs incurred were US$1 billion less in 2026 compared to 2025.

Despite higher gasoline prices, Ford's consumer demand for trucks has remained robust, according to House. She noted that Ford's customer base tends to be higher-income individuals who may benefit from recent stock market gains. However, Ford did increase its 2026 commodity headwind cost to US$2.5 billion, up from the previous estimate by US$500 million. This increase is attributed to higher costs for metals like copper and steel, as well as elevated logistics expenses due to rising diesel fuel prices.

Looking ahead to 2027, Ford expects to continue facing significant commodity cost increases, in addition to higher semiconductor costs. House also pointed out that while overall profitability is expected to be roughly in line with 2026, the company remains focused on navigating the challenges posed by the current economic climate.