A Ford logo is seen on a wall of the Oakville Assembly Plant as workers with UNIFOR attended a ratification vote nearby, in Oakville, Ontario, Canada November 6, 2016. REUTERS/Chris Helgren

A Ford logo is seen on a wall of the Oakville Assembly Plant as workers with UNIFOR attended a ratification vote nearby, in Oakville, Ontario, Canada November 6, 2016. REUTERS/Chris Helgren (Copyright Reuters 2016)

Ford cuts Ford Credit's 2017 pretax profit forecast

Markets Reuters

Ford Motor Co said on Thursday it had cut the 2017 pretax profit forecast for its Ford Credit financial services arm.

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The company said it now expected Ford Credit to record a pretax profit of about $1.5 billion in 2017, down about $300 million from its prior estimate, due to lower auction values.

Ford said it expected its core automotive business to improve in 2017 and 2018. (http://bit.ly/2fYYv2x)

(Reporting by Ankit Ajmera in Bengaluru; Editing by Ted Kerr)