The Dearborn, Michigan-based automaker saw its net income fall by 35% to US$1.6bn, with adjusted pre-tax profit coming in at US$2.2bn and earnings per share of US$0.39, above market expectations for US$0.35 per share.
Despite rough first quarter results Ford did say it expects a profit before taxes of $9 billion during 2017.
Revenue for the first quarter rose 4% to $39.1 billion, driven by a favorable mix of pickup trucks and sport-utility vehicles.
Ford's total vehicle sales were worse than industrywide deliveries of cars and light trucks, which declined 1.5% to 4.03 million, according to Autodata Corp.
Ford has invested $1 billion in artificial intelligence company Argo AI.
Shanks said Ford's own used-car values at its finance arm were down 7 percent compared to the same quarter in 2016, but said customers' credit scores remained high and we "feel really good about where credit is". Ford said it had 14.1% of the North American market, down 0.5 points from past year.
Ford's costs during the first quarter were hurt by two recalls in North America, one to replace potentially faulty side door latches and the other for under-hood fire risks.
Google Implements New Features to Fight Fake News
A similar feedback form is also available for any Featured Snippets , which appear at the top of some search results. By this menu users will be able to notify Google if they feel anything inappropriate in AutoComplete Search bar.
Los Angeles Dodgers Promote Cody Bellinger To Majors
Bellinger was originally an outfielder in high school before transitioning to first base in his junior year. Center fielder Joc Pederson is the latest to go on the DL, landing there Monday with a right groin strain.
In Europe, Ford posted a pretax profit of $176 million compared with $434 million a year earlier, with exchange-rate and Brexit headwinds offsetting higher sales volumes.
"We're having one foot in today and one foot in tomorrow", Chief Executive Officer Mark Fields said Thursday on Bloomberg Television. Ford reported earnings per share of 40 cents, down from the first quarter of past year but better than the 35 cents analysts had expected. The company led by Elon Musk has posted only two quarterly profits in its history, yet its market value surpassed Ford's this month.
Ford Motor kept costs in check as it began laying down a bet on an age of electric and self-driving cars, buoying profits that should improve later this year.
Shanks said that the remainder of 2017 will be about even or better than Ford's financial performance in 2016.
North America produced the most profits for the automaker even though profits fell in the region to $2 billion in comparison to $3.1 billion the prior year.
Pricing gains will be tougher to come by as the year goes on, Shanks said. "Plus (first quarter 2016) was a phenomenal quarter across the board for the industry in the US and will be an nearly unfair comparison".
Automotive revenue for the quarter rose to $36.5 billion from $35.3 billion a year earlier.
According to Ron DeSantis of Florida, Trump intends to announce the move during his short visit now planned for May 22. An Israeli source told Walla that President Trump would visit the Yad Vashem Holocaust museum during the May visit.
Rosenstein garnered 94 votes for his confirmation Tuesday, one of the most bipartisan votes for a Trump nominee. The investigation, though, continued to dog Rosenstein's path to the upper ranks of the Justice Department.
Ross justified the duties by saying Canadian firms "charge a subsidized low price when the products hit the USA border". As US Commerce Secretary Wilbur Ross said in a statement: "It has been a bad week for US-Canada trade relations".
The Department of Children and Family Services opened two investigations of Gordon for allegations of neglect last month. There was no disturbance, but deputies provided some candy and toys for the children at the house, he said.
He was later dragged off the plane, and video of the incident, recorded by other passengers, was posted online. That's according to incident reports filed by the Chicago aviation officers who dragged him from the plane.
In Chicago, Matt Davidson had two hits and three RBI in an eight-run sixth, Chicago's highest-scoring inning in five years. Mesoraco is now on the disabled list following right hip surgery and is rehabbing with Double-A Pensacola.
Investigators say they started to suspect something was off after Dabate kept changing the timeline of events during questioning. Prosecutors say her husband's alibi that a masked intruder attacked him first and then went after his wife just doesn't add up.
News rankings highlight public schools that best serve all of their students, including disadvantaged populations. At Timpanogos High School, Principal Joe Jensen said it's what happens in the classroom that matters.
It had previously said that it would abolish its extradition treaty with France if Haradinaj were not handed over. Haradinaj, a lawmaker and opponent of Kosovo President Hashim Thaci, is considered a war hero by many Kosovars.
At least five people were killed and 11 others injured when a passenger van hit a landmine in Pakistan's Kurram Agency on Tuesday. The injured soldiers were later airlifted in a military helicopter and taken to the army-run hospital in Miranshah military camp.
The second Russian to be disqualified on Monday was 400m runner Maksim Dyldin, who failed to medal at the 2012 Games in London. Chernova had already lost her London 2012 bronze medal and the 2011 world title from a previous doping case.
Eric Thames bashes his way into Brewers' record book
Cain (2-0) allowed two hits, struck out three and walked one and has been a steady presence in San Francisco's rotation so far. With another 9 runs on the board today, the Brewers have now outscored their opponents by a margin of 120-104 on the season.
French Policeman Killed in Paris Attack Claimed by IS
As well as the assault rifle used in the attack, a pump action shotgun and knives were in his auto , Molins said. Officers found handwritten messages defending Isis, addresses of police establishments and a Koran by his body.
You Can Now Watch YouTube Kids on Smart TVs
YouTube Kids is a version of YouTube age-gated so kids can watch it without finding anything made for mature audiences. For those unfamiliar, YouTube Kids is basically YouTube designed with content aimed specifically for children.
Sony cuts ties with embattled producer Dr. Luke
Even though this might seem like good news for Kesha , we're not sure that it actually nullifies her contract with the producer. Luke of once forcing her to take a date-rape drug and then proceeding to take advantage of her in a hotel room.
Warriors move on with a sweep of the Trail Blazers
Listen to the live radio commentary of today's NBA Playoffs warriors vs blazers on 95.7 The Game, RIP CITY RADIO 620. If they did not produce a win in Game 4 and every following game, their season would be over.
Unemployment rate drops; job growth still lags
A total of 670 people was looking for work in March, down 17.4 percent from February (down 30.8 percent since March 2016). Oregon's statewide rate was a record low 3.8 percent in March, down from a then-record 4.0 percent in February.