FORD’S PROFIT TUMBLES AS VEHICLE COSTS JUMP

Ford’s profits sank 35% during the first quarter to $ 1.6 billion as higher costs for warranties, recalls and materials eroded the bottom line. The company had earned a profit of $ 2.4 billion in the first quarter of 2016, its highest quarterly profit ever. On a per- share basis, Ford earned 39 cents compared with the 36 cents per share Wall Street analysts, on average, had expected.