Ford warns its losses are growing

Ford lost $2 billion in the first quarter, and it warned investors Tuesday that its finances will be far worse in the current quarter.

The company it expects a loss before interest, taxes and special items to reach $5 billion in the quarter, compared to a $632 million loss on that basis in the just-completed quarter. Ford posted a narrow profit in South America but lost money in every other region, posting a $1.9 billion adjusted operating loss in North America.

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