海角大神

Higher recall聽costs聽in North America and steeper losses in聽Russia聽and聽South America聽have caused聽Ford聽Motor聽Co to slash its forecast for pretax profit this year to $6 billion, from $7 billion to $8 billion previously, executives told investors at a briefing on Monday.

Chief Financial Officer Bob Shanks said record profits in North America aren't enough to offset trouble in South America, where聽Ford聽expects to lose $1 billion this year, and Russia, where falling sales and the rapid deterioration of the ruble took the company by surprise. Warranty costs 鈥� including a $500 million charge for last week's recall of 850,000 vehicles for defective air bags 鈥� are also higher than expected.

"We know this year is going to be short of plan, but we also have to keep an eye on the future," Shanks said.

Shanks said聽Ford聽expects a pretax profit of $8.5 billion to $9.5 billion in 2015, based partly upon an expected recovery in South America and improvement in warranty costs. The company also plans fewer vehicle introductions in 2015, which will cut costs.聽Ford聽is introducing 23 vehicles worldwide this year; next year, it plans to introduce 16.

Ford聽shares聽closed down 7.5 percent at $15.11 on Monday and fell further in after-hours trading to $15.

The No. 2 U.S. automaker revealed the bad news during the first investor day it has held under the leadership of Chief Executive Mark Fields, who took reins of the company from Alan Mulally on July 1. Mulally is credited with reversing a steep decline at聽Ford聽and returning it to profitability and an investment grade rating.

Fields said he is not concerned about what he sees as short-term bad news ahead of what he calls "a growth story."

Longer term, the company said it expects to grow global sales by as much as 55 percent by 2020, to 9.4 million cars and trucks. That's partly based on expected strong growth in Asia, where聽Ford聽is opening five plants over the next year.

He also said that laying out the bad news to investors at a conference center in Dearborn,聽Michigan聽near聽Ford聽headquarters聽was a sign of progress from the days when the company delayed action on difficult issues.

General Motors Co plans to host a similar investor day on Wednesday in聽Detroit.

As recently as July,聽Ford聽said it was on track to make a profit in Europe in 2015.聽Ford聽hasn't made a full-year profit in the region since 2010.

Ford聽CFO Shanks said the company's money-losing operations are targeted to achieve profit margins by 2020 of 7 percent to 9 percent in聽South America聽and 3 percent to 5 percent in聽Europe.

Repairs on recalled聽vehicles, mainly in聽North America, will cost the company about $1 billion, and losses in聽South America聽are expected to be higher than previously forecast, at nearly $1 billion, Shanks said.

Shanks also said that聽Ford聽now expects to lose about $300 million this year in聽Russia, more than previously expected.

Ford聽is forecasting a pretax operating profit margin of about 8 percent by 2020, Shanks said, adding that the company targets break-even at two-thirds of wholesale volume by 2018.

Ford聽said that the company will continue to make losses in聽South America聽in 2015, but not as much as this year.

Ford聽said it is on track for the important launch of the 2015 F-150 pickup truck. The first sales of that truck to U.S. consumers will take place late this year, said Joe Hinrichs, head of聽Ford's operations in聽North America聽and聽South America.

This report includes additional material from The Associated Press.