The only major American auto company not owned by the state–that would be Ford–is doing amazingly well:
Ford continued to pinch business from its struggling crosstown rivals last month, increasing its share of the U.S. auto market to its highest percentage in three years.
The automaker now controls 15.1 percent of the marketplace, and some analysts predict that Ford could leap past General Motors in sales by the end of the year.
Ford has been able to survive without government aid, as its competitors have buckled. In May, Chrysler entered bankruptcy protection. And GM was not far behind, culminating with a Chapter 11 filing on Monday.
Ford insists that its products, not its rivals’ financial troubles, are driving sales. But regardless of the reason, it plans to capitalize. As GM and Chrysler close and idle plants this summer, Ford announced yesterday that it will be ramping up its North American production by 10,000 vehicles in the second quarter. In the third quarter, it plans to make 42,000 more vehicles than it did a year ago.
Meanwhile, government-owned GM has sold its Hummer brand to a Chinese company.
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