Ford’s Profit Rises as Auto Maker Reports Progress on Cost Cuts

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Ford Motor Co. is planning to spice up revenue margins quicker than initially forecast, saying Wednesday it would slash capital spending in coming years and kill iconic car strains which are unprofitable in an effort to maintain tempo with Detroit rivals.

The No. 2 U.S. auto maker by gross sales mentioned it goals to satisfy an eight% profit-margin aim two years sooner than anticipated, reflecting Chief Government Jim Hackett’s repeated calls to take extra aggressive motion on prices. For instance, Ford mentioned it’s pulling the variety of unprofitable small automobiles…

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