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Ford announces lower 2014 profit projection

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.