The automaker was hit in part by an 11 percent drop in wholesale volume in North America, its key market.
DETROIT - Ford Motor Co. posted a net profit of $1.0 billion for the third quarter, marking a steep decline from net earnings of $2.2 billion in the year-ago period.
The company's adjusted pre-tax profits were $1.4 billion, down from $3.1 billion in the third quarter of 2015, as its total revenues fell 6 percent to $35.9 billion.
The automaker was hit in part by an 11 percent drop in wholesale volume in North America, its key market.
In the quarter, Ford's revenues in North America fell 6 percent to $33.3 billion and its pre-tax profit there fell to $1.3 billion, compared to $2.9 billion in the third quarter of 2015.
Ford said pre-tax earnings were also impacted by the launch of the all-new Super Duty truck, dealer stock reduction of the F-150, a normalization of series mix on the F-150 and a door-latch recall.
Ford has recalled some 2.4 million cars, SUVs and vans in the U.S. due to the door-latch issue, in which side door latches can prevent a door from properly closing, which could lead to it opening while driving.
Earlier this year, Ford adjusted its earnings forecast downward in light of that recall. The company also said in reporting its second quarter results in July that it expected to see weaker results in the second half of the year.
Outside North America, Ford's results were mixed.
The company reported a pre-tax profit of $138 million in Europe, a rise of $129 million from a year ago and its best third quarter in the market since 2007.
The automaker said the stronger results in Europe were driven by improved cost performance, a strong product mix and a favorable balance sheet exchange.
Ford was profitable in the Asia-Pacific region, where its pre-tax earnings grew to a record $131 million in the third quarter, compared to $22 million in the year-ago period.
The company struggled in South America, where its pre-tax loss grew to $295 million, compared with a loss of $163 million in the third quarter of 2015. Results there were hit by high inflation and unfavorable currency exchange rates in Argentina, as well as by lower industry volumes in Brazil.
In the Middle East and Africa, Ford's pre-tax loss was $152 million, a drop of $137 million from the year-ago quarter.
The company's Ford Credit unit posted a pre-tax profit of $567 million, its best quarterly profit since 2011.
Ford is now estimating its pre-tax earnings to total about $10.2 billion for 2016.
"This quarter, we delivered key elements of our growth plan by fortifying our core business with the launch of the all-new Super Duty pickup, transforming Lincoln with the new Continental and investing in emerging opportunities with the acquisition of the Chariot crowd-sourced shuttle service," Ford president and CEO Mark Fields said in a release Thursday. "Importantly, we remain on track to deliver one of our best profit years ever."