Ford [ Images ] Motors, one of the big three in the US auto industry, is planning to increase its market share at a time when its rivals -- GM and Chrysler [ Images ] -- are tackling bankruptcy and restructuring procedures.
According to the Wall Street Journal, Ford Motor is preparing to gain market share, while its two main rivals are bogged down in bankruptcy and restructuring.
Quoting a company official, the report stated, "Ford, the only one of Detroit's Big Three that did not need a bailout from the federal government, plans to increase production of cars and trucks in the third quarter by about 10 per cent from the level of a year ago."
The report said that it would be Ford's significant production increase in almost two years.
In contrast, Ford's rivals, General Motors [ Images ], which has filed for bankruptcy protection and Chrysler LLC, which is nearing the end of its bankruptcy reorganisation, are planning to shut down their plants for nearly all of the third quarter. The WSJ report quoting a person familiar with the matter at Ford said that, "this is a once-in-a-lifetime opportunity to separate us from our other domestic competitors."
"No one is going to gift-wrap it for us. You have to deliver the product people want to buy. That said, you have to take this historic opportunity to grab market share," it added.