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Ford's new aluminum-sided F-150 will be a lot lighter and more efficient when it goes on sale later this year. But for now it's a serious drag on profits.
Ford's net income dropped 34 percent to $835 million in the third quarter, largely due to the cost of launching the pickup. The new F-150, which is 700 pounds lighter due to its aluminum construction, is scheduled to go on sale by the end of this year.
The company closed its Dearborn truck plant for five weeks during the quarter to change over to new equipment, contributing to $700 million in negative operating cash flow. Chief Financial Officer Bob Shanks said it was the first quarter the company has been cash flow negative since 2010.
Read more http://www.sfgate.com/business/article/Ford-profit-falls-in-third-quarter-on-truck-costs-5844614.php
