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Ford announces lower 2014 profit projection

The logo of Ford Motor Co is seen at the company's assembly plant after an emergency meeting with the plant management in Genk October 24, 2
The logo of Ford Motor Co is seen at the company's assembly plant after an emergency meeting with the plant management in Genk October 24, 2

DEARBORN (WKZO) -- Ford Motor Company is projecting that their profit for 2014 will be lower than this year due to a number of factors, including the cost to launch 22 new or re-designed vehicles.

The most important of those new products will be the Ford F-150 pickup truck which is the company's best selling vehicle.  Chief Financial Officer Bob Shanks said the pre-tax profit for this year is expected to be 8.5-billion dollars but next year the profit will drop to between seven and eight-billion.

Shares of Ford stock dropped by over a dollar in the wake of the news.

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