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Published on .

In an annual letter to shareholders last week, Ford Motor Co. Chairman-CEO Alex Trotman said he expects industry sales in North America and Europe to be about the same in 1998 as '97.

He said Ford's auto business is targeting a 5% return on sales in North America, profitability in Europe and a breakeven position in South America. Longer term, "the industry outlook is more challenging," Mr. Trotman said.

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