Ford Sees Financial Results Declining in 2017, Rising in 2018
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Ford Motor Co. said it expects “total company results” to decline next year as the automaker increases investment in electric vehicles and new opportunities to strengthen its businesses, before rising again in 2018.
The automaker is investing $4.5 billion as it works to introduce 13 new electric vehicles, accounting for 40 percent of its lineup, by 2020, the company said in a statement Tuesday ahead of its investor day presentations. The Dearborn, Michigan-based automaker earlier this month lowered its 2016 pretax profit forecast last week to $10.2 billion from at least $10.8 billion because of the cost of an expanded recall of faulty door latches.