Ford Motor Q3 Net Drops
Ford Motor Company reported that it’s third quarter 2016 net income was $1.0 billion, down from $1.2 billion in the same period in 2015.
Company adjusted pre-tax profit was $1.4 billion, down from $1.78 billion last yest.
According the company’s president and CEO, Mark Fields, “This quarter, we delivered key elements of our growth plan by fortifying our core business with the launch of the all new Super Duty pickup, transforming Lincoln with the new Continental and investing in emerging opportunities with the acquisition of the Chariot crowd-sourced shuttle service.Importantly, we remain on track to deliver one of our best profit years ever.”
Also of note in the period, Ford announced its intention to offer a high-volume, fully autonomous SAE level 4-capable vehicle in commercial operation in 2021 in a ride-hailing or ride-sharing service. Ford also is investing in or collaborating with
four startups to enhance its autonomous vehicle development and doubling its Silicon Valley team and Palo Alto campus.
Category: Featured, General Update
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