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Ford on track to meet year end targets in 2003 amid incentives
Ford Motor Co, led by Bill Ford Jr, reports progress on a five year turnaround started in 2002. It aims to hit 2003 earnings of 70 cents a share, with cost cuts of at least 500 million this year and up to 20 percent cuts in non vehicle costs over two years. Vehicle pricing remains challenged by fierce competition as incentives rise and sales dip, though 65 new Ford Lincoln and Mercury models are planned in five years including a redesigned F-150 and new Five Hundred and Freestyle.
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