Boston, MA 06/11/2014 (wallstreetpr) – Ford Motor Company (NYSE:F) has in recent times become a thorn in the flesh of U.S. rivals, especially General Motors Company (NYSE:GM). In addition to elaborate plans to expand market share in international markets, Ford also announced plans to introduce new vehicles in an apparent attempt to sway customers to its side.
The company intends to launch about 23 new models this year with 16 of the new launches being targeted at the U.S. market.
Aluminum Pickup To Boost Ford
Of the new products expected from Ford, the aluminum pickup truck appears to be generating a lot of excitements in the auto market. According to the annual “Car War” report prepared by auto analyst John Murphy of Bank of America Corp (NYSE:BAC), the aluminum F-150 will be a critical player in winning a bigger market share for Ford in the U.S and abroad.
The new pickup truck is expected to weigh 700 pounds less than the steel version it will replace. The reduced weight of the pickup makes it more fuel efficient and boosts its appeal among customers especially in the wake of high call from the government for increased cut on carbon emissions.
Ford Motor Company (NYSE:F) already enjoys a comfortable lead in the light truck segment and the refreshed model will continue to expand that lead against rivals.
Market Share Growth
According to the Car Wars report, Ford is expected to grow its U.S. auto market share to 16.2 percent by 2017, up from 15.7 percent in 2013. However, during the four years period, GM and Chrysler are expected to stagnate in market share gain at 17.9 and 11.5 percent respectively, which they had in 2013.
Ford will replace or refresh 111 percent of all its light trucks and cars within the next four years. However, General Motors Company (NYSE:GM) is scheduled to replace only 21 percent of its models over the same duration. Chrysler has also scheduled a small new-product launches over the next four years compared with Ford.
Therefore, a huge product replacement and launches are expected to work in favor of Ford Motor Company (NYSE:F) in capturing a bigger market share than Detroit rivals.
