Ford Drops After First-Quarter Profit Forecast Trails Estimates
- Costs to develop autonomous autos weighing on earnings
- Carmaker trims North American output as U.S. demand drops
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Ford Motor Co. just flashed a warning to investors that it’s hard to keep profits rolling in a slowing market while also trying to reinvent your company for an autonomous age.
Profit may fall by half in the first quarter, a bigger drop than analysts predicted, as Ford ratchets back production and spends more to create the self-driving cars and electric vehicles the company has said will drive its future.