Ford quarterly profit drops almost 26% due to $1B write-offs for canceled electric SUV

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Ford quarterly profit drops almost 26% due to $1B write-offs for canceled electric SUV
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Ford’s third-quarter net profit fell nearly 26%.

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FILE - An iPhone displays the Facebook app, Aug. 11, 2019, in New Orleans. Russia, China and Iran are continuing to target voters in the U.S. with disinformation and propaganda related to the upcoming presidential election, top intelligence officials told reporters on Monday, July 29, 2024. Groups linked to the Kremlin are increasingly using private public relations firms or unwitting social media users to spread their false claims as a way to hide their tracks.

FILE - A 2024 Ford F-150 truck is assembled at the Dearborn Truck Plant, April 11, 2024, in Dearborn, Mich. FILE - An unsold 2024 Lightning electric pickup truck sits at a Ford dealership May 19, 2024, in Denver. – Ford's third-quarter net profit fell nearly 26% as the company took $1 billion in accounting charges to write down assets for a canceled three-row electric SUV.

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