Ford’s First-Quarter Profit Drops 64%; Suspends Outlook
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Production halts and an unprofitable EV business nearly wiped out Ford Motor’s net profit in the first quarter, the company said Monday. Ford reported net income of $471 million, down from $1.3 billion a year earlier. Wholesale deliveries fell 7% to 971,000 during the three-month period, which Ford attributed to slower production of some models.
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