What caused Ford's net profit drop in Q3 2024?

Ford's net profit dropped in Q3 2024 primarily due to higher warranty costs and inaccurate warranty reserves related to quality issues in their vehicle models since 2022.

1. **Quality Assurance Deficiencies**: Ford's quality assurance for vehicle models has been deficient since 2022, leading to increased warranty costs.
2. **Higher Warranty Costs**: As a result of these deficiencies, Ford has experienced higher warranty costs.
3. **Inaccurate Warranty Reserves**: The Company's warranty reserves did not accurately reflect the quality issues in vehicles sold since 2022, which has affected profitability.

These factors combined have led to a drop in net profit for Ford in Q3 2024.