Pickup trucks helped Ford Motor Co. to a strong finish in the third quarter. (AP Photo/Richard Drew)
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Wall Street may love the shares of Silicon Valley electric carmaker Tesla Inc., but Americans love big, fuel-thirsty trucks like Ford Motor Co.'s bestselling F-Series pickups and are paying ever higher prices to buy them. The auto industry is at a crossroads, with the future of legacy automakers like Ford, General Motors Co. and Fiat Chrysler Automobiles NV uncertain as governments float proposals to ban internal combustion engines over the next two decades.That is providing Ford, GM and other established automakers with billions in cash to mount a challenge to Tesla.That is $1 billion less than forecast earlier this year, but strong enough to fund the company's promise to develop 20 more electric vehicles by 2023 and send $7 billion back to shareholders.Ford's share price has been flat for the year as the No. 2 U.S. automaker ushered out former CEO Mark Fields.It had $3 billion in cash on hand at the end of the second quarter, and some analysts predict the automaker will have to raise more to cover the expected cash drain from the slow launch of the Model 3, which is lower priced than other Teslas and aimed at the market for $35,000 to $45,000 cars.
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