DETROIT — Ford and the United Auto Workers have come to terms on a new four-year contract that trades annual pay raises for profit-sharing and a signing bonus and promises thousands of new jobs building cars and trucks.

Details weren’t released, but the deal is expected to be sweeter for workers than the contract approved last week by factory employees at General Motors.

Both the union and company said in statements that they would announce details today. Ford shares fell 16 cents to $9.21 in premarket trading.

The agreement also is expected to bring down Ford’s hourly labor costs, which are the highest in the U.S. auto industry.

The pact still must be approved by Ford’s 41,000 UAW members in voting that will start next week. Approval could be a problem because many expected the company to restore pay raises and other benefits they sacrificed to help Ford through tough financial times starting in 2007.