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Ford cuts N. American production, cuts profit goal

DETROIT -- Ford Motor Co. no longer expects to return to profitability by 2009 and is cutting North American production of pickups and SUVs for the rest of this year as high gas prices and the weak economy hurt sales, the company announced Thursday, according to the Associated Press.
The Dearborn-based automaker also cut back its projections for total U.S. sales in 2008 to between 15 million and 15.4 million vehicles. That's down from 17 million vehicles as recently as 2005.

Posted by Peter C. T. Elsworth  at 10:15 AM to Ford | Permalink

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