Ford Plans Production Increase of 10% - TheStreet

Ford Plans Production Increase of 10%

The automaker, the only of the Big Three not to accept bailout funds from the U.S. government, will make its first significant production increase in almost two years, a report says.
Author:
Publish date:

Ford

(F) - Get Report

plans to increase production of cars and trucks in the third quarter by about 10% from a year earlier, the automaker's first significant production increase in almost two years, a report says.

Ford's plans are in stark contrast to

General Motors

(GM) - Get Report

, which plans to file for bankruptcy protection Monday, and

Chrysler

, which could emerge from bankruptcy Monday, as those companies are planning to shut down their plants for almost all of the third quarter, the

Wall Street Journal

notes.

Ford, which hasn't needed any bailout money from the U.S. government, has seen a gain in retail market share in six of the past seven months and expects to see another boost when May auto sales are reported Tuesday, the newspaper reports. As of April 30, Ford's U.S. market share was 13%, the company said.

The automaker plans to produce 150,000 cars and 310,000 trucks for a total of 460,000 vehicles, according to company officials, the

Journal

notes. It built 184,000 cars and 234,000 trucks for a total of 418,000 a year earlier. Most of the increase comes from greater production of Ford's F-150 pickup trucks.