Ford falls as Q1 US auto sales drop

Shares of Ford F.N fall nearly 2.5% to about $11.40 in morning trading

Co reports a near 9% drop in first-quarter U.S. sales

Higher borrowing costs, expensive prices and no federal tax credits for electric vehicles have reduced demand for new cars in the U.S

The Detroit automaker's peers including General Motors GM.N and Toyota 7203.T also reported lower sales on Wednesday

Ford reports overall sales of 457,315 vehicles for the quarter ended March 31 vs 501,291 vehicles from a year-ago

Including session's moves, shares down 13.2% YTD