According to the Detroit News, Ford Chairman and CEO Bill Ford has said the company would reach its profit goals this year despite the increasing costs of rebates, low-interest loans and other sales incentives.

"We can and will deliver," the paper quoted Bill Ford as telling analysts at a meeting at Ford's headquarters in Dearborn, Michigan. "We really are on track."

The Detroit News said Ford expects to make 70 cents a share -- about $1.2 billion -- this year after losing a combined $6.4 billion in 2001 and 2002.

The paper noted that, earlier this year, Ford said it expected net pricing in North America to remain flat for 2003, meaning that it planned to make enough additional revenue out of car and truck sales to offset rising incentives.

The paper said that, in addition to reaffirming Ford's profit target, Bill Ford made a point of reassuring investors that his management team is working together as a team – the company has been plagued by rumours that some senior executives don't get along.

"I feel very good about the focus of our management team," Ford reportedly said, according to the Detroit News. "Is there tension in our meetings? You bet there is and there should be. The worst kind of meeting you can have is when everybody sits around a table and nods their heads."

The paper said Ford spent two days showing Wall Street analysts its future lineup, including the important new F-150 pickup – Ford’s top-selling vehicle – that debuts later in 2003.