Ford's executive vice president Mark Fields will today announce the car manufacturer's much-anticipated "Way Forward" plan in an attempt to reverse the poor performance that dominated last year.

Total losses of $1.4 billion in North America during the first nine months of 2005 mean that many are speculating there will be up to 30,000 job losses.

Displaced by Toyota from its position as the world's second biggest car manufacturer, Ford is also working on a fresh approach to design policies, with the "Modern Styling" ideals already indicating a move away from European aesthetic standards.

Mr Fields is also likely to announce the closure of around ten vehicle and component plants across North America over the next five years, while the UK may be subject to the restructuring attempts.

Ford's "Way Forward" comes just months after General Motors (GM) announced plans to cut 30,000 jobs by 2008, as both American companies struggle to compete in a slowing market.

GM will provide an update on its own restructuring plans on Thursday along with the announcement of its full-year figures, with higher fuel costs and unsustainable personnel costs so damaging that some experts have suggested bankruptcy is not an unrealistic outcome.

The sluggish pace of the vehicle market is anticipated to continue this year and experts believe that both Ford and GM need to invest in more clean engine technologies if they are to compete with the likes of Toyota, which has had a major success in the US market with its Prius hybrid.


Ÿ Adfero Ltd