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

Ford reported lower profits but topped estimates Wednesday as it pointed to persistently solid consumer demand for trucks and large vehicles despite higher gasoline prices.

The big US automaker reported third-quarter profits of US$2.0 billion, down 16.3%. Revenues dipped 2% to US$49.5 billion on lower auto sales.

Throughout this year Ford has been contending with a hit to production after major aluminum supplier Novelis suffered two fires in fall 2025, pinching output of the F-150 truck and some other models.

Ford chief financial officer Sherry House described the Novelis situation as “largely behind us,” with costs resulting from the fire about US$1 billion less in 2026 compared with 2025.

While higher gasoline prices have exacerbated the cost-of-living challenges across the US, Ford has not seen a consumer shift away from trucks.

“We have seen a customer that has remained incredibly resilient in the truck area,” House told reporters during a briefing, noting that Ford customers tend to be higher income and are in many cases enjoying the benefits of stock market gains.

But Ford did raise its 2026 commodity headwind cost to US$2.5 billion, up US$500 million from the prior estimate.

House cited increased costs for metals including copper and steel as well as higher logistics expenses from the jump in diesel fuel prices.

“We are still expecting significant commodity cost increases going into 2027,” said House, who also pointed to higher semiconductor costs.

She said that overall, Ford expects 2027 profitability to be “roughly in line” with 2026.