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BRIEF-Ford Motor announces strategic update, reaffirms 2017 guidance
October 3, 2017 / 8:24 PM / in 14 days

BRIEF-Ford Motor announces strategic update, reaffirms 2017 guidance

Oct 3 (Reuters) - Ford Motor Co :

* Ford says reducing internal combustion engine capex by one-third & redeploying that capital into electrification along with prior $4.5 billion investment

* Ford says reaffirming 2017 full-year financial guidance

* Fy2017 earnings per share view $1.76, revenue view $143.52 billion -- Thomson Reuters I/B/E/S

* Ford says reiterating its long-term goal of an 8 percent automotive operating margin

* Ford says by 2019, all of Ford’s new u.s. Vehicles will be built with modem connectivity

* Ford says 90 percent of Ford’s new global vehicles will feature modem connectivity by 2020

* Ford says is cutting costs, reducing automotive cost growth by 50 percent through 2022

* Ford says reducing engineering costs by $4 billion from planned levels over the next five years

* Ford says has plans to build the next-generation focus for north america in china

* Ford says reallocating $7 billion of capital from cars to suvs and trucks, including ranger and ecosport in North America and New Bronco globally

* Ford says in the next five years, co is aiming to reduce new vehicle development time by 20 percent

* Ford says targeting $10 billion in incremental material cost reductions Source text : (ford.to/2wwfZer) Further company coverage:

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