Oct 26, 2017

Ford profits jump but China challenge remains

Strong pickup truck sales in North America boosted profits at Ford in the third quarter, but the US car maker still faces an uphill battle in China. Ford has looked to strong demand for pickup trucks and sports utility vehicles to keep sales steady. Investors say Ford is behind when it comes to self driving car technology and has not made strong enough inroads in China - the world's largest vehicle market. By contrast, rival General Motors and its joint venture partners sold more than 2.7m cars in the first nine months, up about 1%. Ford told investors it sees "Enormous opportunities" to improve its performance of its Asia Pacific division, including in China. In August, Ford said it was exploring a joint venture with Zotye, a local firm focused on electric vehicles.

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