Ford Motor Co. is forecasting weaker earnings growth for this year and further losses in its electric vehicles business as it works to control costs. The automaker said Wednesday that it expects its full-year adjusted pretax income to range between $7 billion and $8.

Ford has been grappling with stubbornly high warranty expenses and sluggish cost-cutting efforts. In the July-September quarter, the company took $1billion (€960,000) in accounting charges to write down assets for a cancelled three-row electric SUV.