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Ford profits fall 65 percent amid energy crisis
Ford Motor Co reported first quarter profits of 124 million, down 5.7 per gent from a year earlier, the lowest since 1967. Worldwide sales were 5.5 billion, an 11 percent drop, with U.S. car sales down 24 percent though market share rose to 26.6 percent. GM and Chrysler posted steeper declines, while Ford projected a gradual rebound in the second half of the year as gasoline supplies improve and the economy grows.
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Ford Motor Co
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Lee A. Iacocca