
US car sales are expected to fall this year from 2016’s record levels, while Europe’s are forecast to rise slightly, in spite of near-record sales last year. Ford announced first-quarter earnings sharply down on the year, with pre-tax profit falling $1.5bn to $2bn in its automotive segment, in results that underlined investor concerns about a cyclical downturn in the US auto industry. Ford’s US sales fell 5 per cent to 771,000 vehicles, although global profits were also hit by a host of other factors including higher warranty costs, recall costs, unfavourable exchange rates, higher commodity costs and investments in new technologies, the company said.
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