Carmaker raises alarm with a light guidance for the year, saying profits will be marred by “headwinds related to market factors.”

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 Motor on Wednesday projected up to $5.5 billion in losses on its electric vehicle and software operations this year, a loss similar to last year and a sign of the severe difficulties in cutting costs on battery-powered models.