Lower Second Quarter Profits At Ford

Kristylee Varley

AM800-NEWS-FORD-GETTY-1.4231309 DETROIT, MI - JUNE 19: An artist spray paints a canvas at the historic, 105-year old Michigan Central train station prior to a Ford Motor Company press conference to formally announce their plans to renovate the building and turn it and Detroit's Corktown neighborhood into a hub for Ford's auto technology on June 19, 2018 in Detroit, Michigan. The project is expected to be completed by 2022 and will be the workplace for approximately 2500 Ford employees. (Photo by Bill Pugliano/Getty Images) (Bill Pugliano/An artist spray paints a canvas at the historic, 105-year old Michigan Central train station prior to a Ford Motor Company press conference to formally announce their plans to renovate the building and turn it and Detroit's Corktown neighborhood into a hub for Ford's auto technology on June 19, 2018 in Detroit, Michigan. (Photo by Bill Pugliano/Getty Images))

Slumping sales in China is partly to blame

Second quarter profits for Ford Motor Company are sharply lower than they were a year ago — thanks to a fire at a supplier near Lansing in May and slumping sales in China.

The automaker says profits fell almost one-billion dollars compared to 2017.

Ford officials are hinting at big changes in the next three to five years that will shrink spending in areas where the company isn't turning profits.

The company also lowered full-year earnings guidance.

— with files from Metro Source