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Automaker predicts lower profit for 2005

Tuesday, Jan. 25, 2005 | 8:53 a.m.

Ford Motor Co., the world's third-largest automaker, said 2005 profit, excluding some costs, will fall as much as 17 percent as gains from financial services slow and its automotive business improves.

Profit on that basis will be $1.75 to $1.95 a share, down from $2.11 last year, the automaker said in a New York presentation today. The financing unit will have pretax profit before some costs of about $3.5 billion to $3.7 billion in 2005, down from $5 billion. Pretax automotive profit will rise to $1.5 billion to $2 billion, from $850 million, excluding some costs.

Chief Executive William Clay Ford Jr. is trying to bring more balance between the Dearborn, Mich., company's financial and automaking businesses. Ford Motor Credit Co., which makes car and truck loans, generated 83 percent of the automaker's 2004 net income.

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