Ford Motor Co., cutting its 2017 profit forecast for the second time in three months, said it sees a bumpier future as President-elect Donald J. Trump translates his campaign promises into new policies on trade, tariffs and regulation.

“It feels like a world that’s even more volatile,” Bob Shanks, Ford’s chief financial officer, said in a presentation to analysts today. The Trump administration “is going to be an opportunity for substantial change.”

Complicating matters, those changes are coming just as U.S. auto sales are slowing after a record six straight years of growth--meaning there’s now a glut of used cars that is hurting profit at its Ford Credit unit. On an optimistic note, Shanks said the automaker does expect Trump to have a “pro-growth” strategy for the economy. That might include easing tough fuel-economy regulations to reflect consumers’ preference for trucks and sport utility vehicles--instead of electric cars--in an era of cheap gasoline.

“If the new government is serious about accelerating and growing in a very healthy way the U.S. economy--and I believe it is--I think it will take measures that will enable that,” Shanks said. Hitting Ford with a 35% duty on cars it makes in Mexico and brings back to the U.S., as Trump threatened during the campaign, “would be contrary to that.”

Shanks said he noticed a "change in tone post-election" from Trump that "is very encouraging."

"When Mr. Trump met President Obama, the tone, the dialogue, the mutual respect, the desire to work together, I thought was very, very positive," Shanks said.

Ford is talking to Trump’s transition team, while also speaking with federal regulators about how low gas prices are undermining efforts to get Americans to buy electric cars and hybrids so that automakers can achieve a goal to average more than 50 miles per gallon by 2025.