(MENAFN) Ford Motor Co. posted its pre-tax profit at USD1.2 billion in the third quarter of this year, down USD1.4 billion or 54 percent from the same period last year, Xinhua reported.
The Dearborn-based U.S. auto giant attributed the sharp fall in profit in the third quarter to one-time recall costs and low product volume, as well as to economic troubles overseas.
Ford said on its website that all of Ford's third quarter automotive pre-tax results were lower than a year ago, except for in its Middle East and Africa region.
Meanwhile, third quarter revenue were at USD34.9 billion, down from USD35.8 billion a year ago, as Ford suffered its first negative cash flow of USD700 million since 2010.
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