NEW YORK (TheStreet) -- Ford Motor (F) is set to gain half a percentage point in U.S. market share by 2017 according to the annual 'Car Wars' report released by Bank of America Merrill Lynch (BAC) yesterday.
The U.S. automaker's market share is slated to grow to 16.2% by 2017 from 15.7% as of the end of 2013 as new vehicles hitting the market will be geared towards trucks and compact cars.
The report also sees American Honda Motor Co (HMC) gaining half a percentage point in market share to 10.3% in 2017 from 9.8% as of the end of 2013.
The report forecasts the U.S. seasonally adjusted annual rate of vehicle sales to hit 18 million by 2018, up from the 17.4 million figure from 2000.
In separate news, Ford has reached a deal with German unions that will allow the company to continue to build its Ford Fiesta compact car in the country while reportedly saving the company $80 million a year.
Ford shares are up 0.3% to $17.06 in early market trading today.