Ford’s 1Q net income falls 24% as combustion engine unit sees sales and revenue decline

DETROIT (AP) — Ford Motor Co.’s first-quarter net income fell 24% from a year ago as the company’s combustion engine vehicle unit saw revenue and sales decline.

The Dearborn, Michigan, automaker said Wednesday it made $1.33 billion from January through March, compared with $1.76 billion a year earlier.

Excluding one-time items, Ford made 49 cents per share, enough to beat analyst estimates of 43 cents, according to FactSet.

Revenue for the quarter was up 3.2% to $42.78 billion...