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Ford was number two until Toyota bumped them off the fencepost. If Ford wants to retain the number two position, then it must do what Toyota is doing. Afterall that is how Toyota became number two, isn't it?
First, it would be prudent to buy out Mazda completely, or at least bump Ford's stake in the company from 37% to 50%.
Secondly, Mazda should design and manufacture all FWD Ford subcompact and compact cars to compete directly with Toyota.

NEW FORD FIESTA would be a subcompact car to compete with Toyota Yaris. Available as a FWD coupe, sedan, or liftback with a 1.5L I4 (106hp) engine. [120,000 units]
NEW FORD FOCUS / MAZDA 3 would be a compact car to compete with Toyota Corolla. Available as a FWD coupe, convertible, sedan, 3 door hatchback, 5 door hatchback, or wagon with a 2.0L I4 (136hp); or optional 2.3L I4 (151hp) engine. [120,000 units]
NEW FORD TAURUS / MAZDA 6 would be a FWD midsize sedan to compete with Toyota Camry. Available with a 2.3L I4 (160hp) engine. Replace the optional 3.0L V6 (221hp) with the new 3.5L V6 (263hp) engine. [120,000 units]