March 23, 2017 / 1:34 PM / 5 months ago

Ford forecasts drop in first quarter and 2017 profit due to higher costs

The logo of Ford is seen during the 87th International Motor Show at Palexpo in Geneva, Switzerland March 8, 2017.Arnd Wiegmann

(Reuters) - Ford Motors on Thursday said it expects its 2017 adjusted pretax profit be lower than a year earlier due to investments in ventures including self-driving cars.

The company said it expects its adjusted pretax profit to improve in 2018.

The company said it expects first quarter earnings per share of 30-35 cents, lower than what it earned a year earlier, blaming higher costs, lower volume and unfavorable exchange.

Reporting by Rachit Vats in Bengaluru; Editing by Savio D'Souza

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