Ford in the Slow Lane

Its new CEO may be still be enjoying a honeymoon period with investors, but Ford (F Quote) cannot shake the perception that its "Way Forward" plan is moving way too slow.

At around $7.80, the automaker's share price has gained 4% so far this year after rising slightly in 2006. That performance comes after Ford tapped former Boeing(BA Quote) executive Alan Mulally to take over as CEO in September, the same month it unveiled plans to expand and speed up its restructuring plan, known as "Way Forward."

Seven months later, the outlook for Detroit's auto industry has continued to deteriorate amid sharp sales-declines and continued loss of market share. Toyota (TM Quote) said Tuesday it overtook General Motors (GM Quote) in worldwide auto sales for the first quarter, and the Japanese giant is creeping past Ford as the No. 2 seller of vehicles in the U.S. ...