BRING ON THE NEXT CENTURY.

Byline: BOB GRITZINGER, MIKE FLOYD

We'd argue Ford's current F-150 is more than capable of holding its own in the light-duty pickup market. But we're not the Ford product development experts, who aren't about to rest when fully one-fifth of the company's total sales-more than 800,000 last year alone-come from this best-selling vehicle ever produced.

Call it preemptive, but Ford won't idle along while competitors nibble at F-150 with trucks that offer bigger cabs, more doors, rack-and- pinion steering and independent suspension. Dodge's latest Ram, introduced in 2001, boasts those features plus greater horsepower, hauling and towing ratings than the current Ford. General Motors' Chevrolet Silverado and GMC Sierra models, redone in 1999, collectively outsell F-150.

Oh, but wait: There's a cool wind blowing from the Far East (or Deep South, depending on how you look at it)-and on it comes worthy competitors. There's the strong, F-Series- like Toyota Tundra due for a redo next year as a 2005 model, and a tough-look Titan from a resurgent Nissan, which will likely snag more U.S. market share when it debuts late this year as an '04 model. Toyota is readying a truck plant in San Antonio, while Nissan gears up a Mississippi factory poised to build as many as 100,000 trucks-sales that will come straight out of some competitors' hides. And even Honda has given more than a passing thought to a full-size truck for the lucrative North American market.

Ford execs, like newly crowned product development chief Phil Martens, won't admit to fretting over the competition. But the Blue Oval boys clearly see Rams, Titans, Tundras and the next-gen GM trucks in their rearview mirrors. That's why, despite the F-Series' sales success as the top dog since the Carter Admini-stration, Ford is bringing a redesigned model to market after only an eight-year product run-compared to far longer cycles for previous F-Series trucks. As Ford increases this new model's production, due to hit showrooms in August, it will continue to sell the existing truck as the so-called Heritage Series for another year. This Heritage F will be the only '04 F-Series fitted with a V6 engine and manual transmission, until the 2005 models arrive.

Ford is confident its latest truck will thrash the competition, mostly because it takes the best from the rest and piles it on with numerous additional features. Ford also believes Nissan and Toyota have developed their upcoming trucks to best its outgoing model, not its shiny new truck.

"I think we're coming out at the right time, given the market,'' says Ford president Nick Scheele. "I think we've hit a new benchmark. We've moved way beyond.''