March 23, 2017 / 1:34 PM / 4 months ago

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

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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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