lift production at three of its plants in order to meet demand for some of its models and alleviate a burgeoning inventory shortage. Mulally and other Ford brass were in New Dehli to announce the coming production of the Figo, a small car that Ford will market all over Asia and yet another indication that the company will increasingly cast its lot with smaller, more energy-efficient vehicles. According to reports, Mulally said at the Figo unveiling that Ford expects the small-car segment to double within the next 10 years.
Ford will build the Figo at a new $500 million plant in the city of Chennai, India. It will have the ability to make about 200,000 cars a year. Shares of other global carmakers were lower Wednesday. The New York-listed issues of Daimler ( DAI) and Volkswagen ( VLKAY) lost 1.3% and 2.6% respectively, while American depositary receipts of the Japanese behemoths -- Toyota ( TM), Honda ( HMC) and Nissan ( NSANY) -- all inched lower by a fraction of a percent. -- Written by Scott Eden in New York Follow TheStreet.com on Twitter and become a fan on Facebook.