Ford affirms 2017 to be less profitable than 2016

DETROIT – Ford Motor Co on Tuesday confirmed that it would be less profitable in 2017 than last year, even as cross town rival General Motors Co on the same day gave a much more upbeat forecast that surpassed Wall Street expectations.

Ford affirmed that it was on track to deliver about $10.2 billion in adjusted pretax profit in 2017, matching a forecast it gave three months ago.

Ford shares rose 0.5 percent in extended trading after closing at $12.85.

(Reporting by Bernie Woodall)