Ford is behind the eightball. In order to compete with Honda and Toyota, they will have to have the same level of quality, materials, etc. Well, this costs money, which is why Honda and Toyota products are usually priced higher than Ford. Ford has been selling on their discounted prices for so long, I'm not sure how long it will take for people to adjust their thinking.
But, Hyundai gives Ford hope. They still sell on value with lower prices than their competitors. But, slowly, they are making gains. Quality is up dramatically and their reputation is turning around.
Ford needs to follow the same path. Bring the Euro cars here, try to get them into people's hands with real value. Perhaps the same price as the Honda, but give buyers those slick 17" wheels that look so great in the brochure? Try increasing the value equation without lowering prices.
Here's what Ford needs:
1. Fiesta/etc to go up against the Fit/Yaris
2. Focus (better Euro model!!) to go up against the Civic/Corolla/Matrix. Offer a decent range of Focus products perhaps including an AWD wagon and maybe some innovative drivelines like diesels.
3. Taurus/Mondeo/whatever that matches the Camry/Accord/6/Altima/Sonata. This is the US bread and butter segment and Ford needs a much stronger competitor. They MUST have a model where the 4-banger/AT version is SUPERB. The vast majority of Camry/Accord sales are 4-cylinder/AT versions, and Ford needs to understand why. Maybe they could jump the gun with a diesel here too? Hey, give us a cool wagon?
4. They need to update/improve the Escape even though it's a strong seller. For those of us that have become diehard import buyers, the Forester/Rav-4/CR-V line up is just too strong.
There. Four models with some variations (wagons/drivelines) is all they really need to really be back in business. All with four cylinder drivelines as the strongest selling driveline.