Worldwide, Ford's automotive operations lost US$2.7 billion versus a profit of US$473 million last year. Excluding one-time items, worldwide operations lost US$184 million in contrast to a US$580 million profit last year. Ford sold 1.7 million vehicles worldwide in the first quarter, up 3 percent from a year ago despite the decline in the US.
Ford Motor Credit earned US$479 million for the quarter, down 33 percent from US$710 million a year ago. The division said it faced higher borrowing costs due to Ford's credit rating, which fell below investment grade last year.
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