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Tagged: automobile industry

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Economy
8:58 am
Wed July 25, 2012

Ford posts lower profits in the 2nd quarter

Credit Steve Carmody/Michigan Radio
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DEARBORN, Mich. (AP) - Ford Motor Co. says its net income fell by 57 percent to $1 billion in the second quarter as losses in Europe and Asia mounted.

The company lowered its full-year profit forecast. Ford still expects a strong operating profit, but it will be lower than 2011. Previously the company had expected to make about the same amount.

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