Ford Is About To Launch 4 New Cars In The Indian Car Market .
Vivekanand Tripathi
(Editor DERIK TIMES)
Ford Motor Co. is planning to launch 4 new cars in India by next 2 years, also focusing on locally made parts to reduce cost. Other global companies are also launching their car models in the country in upcoming years. Ford’s market share has been increased from 2.9% to 3.4% this year. Due to slowdown of Indian market Ford is unable to meet their previous target of 8 new car launches till 2015.
WHY? Since India’s economy is down by last two years. IHS Automotive is expecting India’s car sales to grow 5-10% in upcoming years just after slowdown.
Present Scenario. India's automobile exports have grown consistently and reached $ 4.5 billion in 2009, with United Kingdom being India's largest export market followed by Italy, Germany, Netherlands and South Africa. India's automobile exports are expected to cross $12 billion by 2014.
According to New York Times, India's strong engineering base and expertise in the manufacturing of low-cost, fuel-efficient cars has resulted in the expansion of manufacturing facilities of several automobile companies like Hyundai, Nissan, Toyota, Volkswagen and Maruti Suzuki. Ford is currently exporting their Indian manufactured cars to 37 countries from India and their target is to expand it to 50 countries in next 5 years.
Key People Involved: Nigel Harris
0 comments:
Post a Comment