Ford cuts Ford Credit's 2017 pretax profit forecast


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. (

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