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Ford reports profit declines for first quarter

The Ford logo is pictured on the rooftop of Austria's Ford head branch in Vienna March 19, 2013. REUTERS/Heinz-Peter Bader
The Ford logo is pictured on the rooftop of Austria's Ford head branch in Vienna March 19, 2013. REUTERS/Heinz-Peter Bader

DEARBORN (WKZO) -- Ford Motor Company is reporting a drop in their first quarter profit.

The automaker says increased costs in North America and a deteriorating economic climate in South America led to a 39-percent decline compared to 2013. Ford made 989-million dollars in the first three months of the year after making 1.6-billion dollars one year ago.

The results were below what analysts had expected. Ford is in the process of introducing 23 new vehicles worldwide this year, and said their Asia Pacific sales set a pretax profit record for the quarter.

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