Declining sales and new tariffs cost billions. Wayne Gerdes – CleanMPG – Oct. 24, 2018 2018 Ford F-450 Super Duty Ford released its third quarter 2018 financial results with mixed to lower results. Ford's Q3 revenue was up 3 percent year over year - $37.6 billion vs. $36.5 billion, with net income of $1 billion, down .6 billion. Company adjusted EBIT reached $1.7B, down .6 billion and was driven by challenges in China. High end trimmed SUVs and trucks in North America is where the bread was buttered while overall global losses continued. In the U.S., Ford trucks and SUV sales totaled 482,512 vehicles, a 2.8 percent gain over the third quarter of 2017. F-Series average transaction prices of $46,224 were up $858 per truck compared to a year ago. Other negatives include the fact that Ford lost market share in every region where it sells vehicles. Outside of North America the company had a $558 million EBIT loss. Ford stated that car sales deterioration, revenue, and earnings in Europe and China will reduce previous forecasts of 8 percent EBIT and high teens ROIC targets by 2020. Ford does expect adjusted full-year earnings of $1.30 to $1.50 per share with positive cashflow albeit lower than last year. From January 1, Ford shares have fallen more than 30 percent. At just under $9 per share, we have not seen this share price since mid-2012 Materials costs have risen and tariffs have cost the company at least $1 billion in the previous quarter alone.