COLMA, CALIFORNIA - JANUARY 06: Ford pickup trucks are displayed on the sales lot at Serramonte Ford on January 06, 2026 in Colma, California. Justin Sullivan/Getty Images hide caption

Justin Sullivan/Getty Images

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American automakers are reporting their third quarter earnings, and they're saying revenues are up, but they're also facing some serious headwinds.

Or as Mike Wall, an analyst at the automotive data company Mobility Global, put it: If this year was a book about the auto industry, "It would be a mix of suspense and thrills and maybe a little bit of comedy and a little bit of horror."

For the thrills: Auto companies are doing well when it comes to selling big cars and light-duty trucks. General Motors reported its sales of light-duty trucks rose 9% in the past year . Ford's F-Series trucks continue to be a company bestseller . Stellantis' pickup sales in the U.S.…