CHICAGO, Oct. 26 (Xinhua) -- Ford Motor Co. has reported better performance in the third quarter of 2017 than last year, thanks to cost control, redesigning of operations and higher profits in trucks.
In its quarterly financial results released on Thursday, Ford announced 36.5 billion U.S. dollars in revenue and a net income of 1.6 billion dollars, all up year on year.
Ford said the better results were mainly driven by its North America and Asia Pacific markets.
In the U.S. market, Ford reported that the F-series pick-ups had its best third quarter sales performance since 2005, with a 14 percent gain compared with the same period last year. Meanwhile, the retail sales of Ford SUVs saw an increase of 4 percent.
In the Asia Pacific market, Ford announced a pre-tax profit of 289 million dollars, about 83 percent higher year on year. Ford contributed the sharp increase to material cost reductions and lower structural costs.
"This quarter demonstrated that our team's focus on fitness is showing early promise," said Jim Hackett, President and CEO of the No. 2 U.S. auto maker.
"But we also know that we must accelerate that progress in the near term, while taking the necessary steps to fundamentally redesign our business operations to be more fit for the long term," he added.
