DETROIT — Ford Motor Co. warned of tough price competition and harder-to-reach profit targets Wednesday, a sign that the company and the auto industry face a tougher road after four years of robust recovery from the Great Recession.
Ford said its pretax profit next year would drop as much as $1.5 billion below a near-record level of $8.5 billion in 2013. The company will have to slow price increases in North America — or even boost discounts on some models — and its costs will rise because of an ambitious launch of almost two dozen vehicles worldwide.
U.S. auto sales have risen by more than 1 million vehicles annually since 2009, but many analysts have said that pace isn’t sustainable. Full story for BostonGlobe.com subscribers.