Ford’s new aluminum-sided F-150 will be a lot lighter and more efficient when it goes on sale later this year. But for now it’s a serious drag on profits.

Ford’s net income dropped 34 percent to $835 million in the third quarter, largely due to the cost of launching the pickup. The new F-150, which is 700 pounds lighter due to its aluminum construction, is scheduled to go on sale by the end of this year.