The latest F-150 is loaded with upgrades-but the higher cost of the new design will cut into profits

2004 F-150 OLD MODEL F-150

V-8 BASE PRICE $22,010 $21,765

INCENTIVES None, but analysts About $3,000, rising say they could top to an estimated $4,250 $2,000 next year in 2004

UNIT SALES* 167,000 in 2003, 388,000 in 2003, 525,000 in 2004 110,000 in 2004

GROSS PROFITS $8,975 $10,000 PER VEHICLE**

* Estimated North American sales, per calendar year ** Excluding fixed costs and incentives Data: Company reports, Ward's Automotive Reports, UBS Investment Search

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