(Reuters) - Ford Motor Co (F.N) said second-quarter losses from its operations outside North America could be triple the $190 million it posted in the first quarter, hurt by continued weakness, mainly in Europe.
The second-largest U.S. automaker said its margins were impacted by the competitive environment in Europe and expected margin pressures to continue in the foreseeable future, it said in a regulatory filing.
The company also listed competition and pricing pressure as dragging on its South American business, while costs in the Asia Pacific-Africa region grow faster than its volumes.
However, it still expects to be profitable in the second quarter, driven by strong results from Ford North America and Ford Credit.
Chief Financial Officer Bob Shanks first spoke about his expectations for the second quarter in an interview with The New York Times.
In April, Shanks said the second quarter would be hit by costs linked to new vehicle launches, added capacity and other items.
The company’s shares were down 3 percent in aftermarket trading. They closed at $10.09 on Thursday on the New York Stock Exchange.
Reporting by Kartick Jagtap in Bangalore; editing by Saumyadeb Chakrabarty and Andre Grenon;