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Toyota Motor Corp and Ford Motor Co will work together to develop gasoline-electric trucks and SUVs that will be ready for market by the end of the decade, the two companies said on Monday.
Ford Motor Co plans to build a $900 million production plant in India, doubling its investment in the country, as the U.S. carmaker seeks to catch up with rivals in the second-fastest growing auto market in the world.
Ford said European sales rose sharply in March, lifting its market share to a 12-year high, and the company said it is pressing for continued government incentives for car buying.
Ford and GM report an increase of 43% for the month. And Honda is up 22% compared with a year ago as automakers keep pace with incentives offered by troubled Toyota.
US auto sales rose in January but were tempered by Toyota Motor Corp. (TM), which suffered a sales slide late in the month from a recall that led the auto maker to halt sales of more than half its vehicles.