Even so, it is hard to believe that Ford executives did not derive some
satisfaction from edging their old rival General Motors in their home market
last month. Once the world’s largest carmaker, Ford had been eating “the
general’s” dust for eight decades.
GM’s second-place finish during March, ahead of a stumbling Toyota, is
attributable to more modest incentives and fleet sales and is unlikely to be
permanent. But the fact that the two are even within spitting distance of
one another is quite a shift and a testament to Ford’s renewal under Alan
Mulally and the disruptiveness of GM’s bankruptcy. After 13 straight years
of market-share losses, Ford gained a full percentage point in each of the
last two years. In a disastrous 2009, GM’s retail sales fell 28 per cent,
nearly twice as much as Ford, while 2010’s rebound saw a sales gain of less
than 2 per cent for GM versus almost 17 per cent for Ford.
Despite a strong March though, Ford’s prediction that it could hold or expand
its share gains in 2011 may have to be hedged given the recent surge in fuel
prices. Even after a big shift in its vehicle mix, Ford’s share of the US
small-car market is a quarter as high as its share of the truck market. What
is more, North America now plays second fiddle to Asia, where GM remains far
stronger.
Throw in all the caveats about fleet mix and global sales though and it is
hard to escape the impression that, after decades in the back seat,
momentum, and not just bragging rights, have shifted across town to Ford’s
HQ.
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