Ford shares were set for a lower open on Wednesday after the company reported disappointing earnings guidance.
The US car giant said it expected adjusted earnings per share in the range of $1.45 to $1.70 for 2018 compared to around $1.78 per share in 2017.
Analysts polled by Thomson Reuters had been projecting Ford to earn $1.83 per share in 2017 and $1.62 per share in 2018.
Ford shares were trading down 3% in pre-market trading on Wednesday, pointing to a rough day when the session opens in New York.
The company blamed higher metals prices, including aluminium and steel, as well as adverse currency movements for the deteriorating earnings trend, which it estimates will hit the bottom line by $1.6bn in 2018.
Ford however claimed it was working hard to refocus the business on earnings-enhancing activities.
On Tuesday, Ford also revealed it was accelerating its push into electric cars, earmarking $11bn in investment by 2020, up from $4.5bn previously, as it looks to launch 40 hybrid and fully electric vehicles by 2022.
Meanwhile, the fruits of an intense cost-cutting drive will mostly be felt in 2020 and beyond.
“We are not satisfied by our performance, we are excited about our future,” said Bob Shanks chief financial officer at Ford.