DETROIT -- The clock is ticking on Ford Motor Co.'s "Mark-and-Anne plan."
And with Ford's core North American automotive business hemorrhaging cash, that duo -- Mark Fields and Anne Stevens -- must work fast to execute the company's second turnaround plan in four years.
Halting its dismal market share slide will be the key to getting Ford out of the muck. The problem: If Ford continues to lose share, the production capacity cuts realized by the plant closings scheduled to be announced Monday, Jan. 23, won't be enough.
Ford Motor CEO Bill Ford said on Jan. 8 that the automaker needs to halt its 10-year market share decline in 2006.
Fields, CEO of the troubled Americas unit, echoed that goal in an interview last week.
"It's a tough market out there," Fields said. "We realize that. But our intent is to stabilize our market share. Our intent is not to cede another two or three points of market share."
Stabilizing market share is one key tenet of the "Way Forward" plan developed by Fields and Stevens, COO of the Americas. Ford was expected to announce Monday that it will close several assembly and component plants, slash thousands of jobs and phase out struggling products -- most likely including minivans.
The automaker also was to announce its full-year 2005 earnings. Through the first nine months of 2005, Ford's North American auto business lost $1.4 billion before taxes.
But Ford Motor will be hard pressed to hold share given the rapidly increasing growth by transplant automakers.