Ford to introduce 8 new models in India
Ford Motor Co. said it would introduce eight new vehicles in India by 2015 to capitalize on increasing demand in the fast-expanding car market.
During the last 10 years, Ford has invested 1billion dollar in India and gearing up to overtake its competitors who continue to launch new models to attract one of the Asia’s largest growing car market of our country.
According to Joe Hinrichs, the President of Ford Asia Pacific and Africa, Ford has big plans for India and for the Asia region. He added that by 2015, Ford will introduce eight new vehicles to India and this ambitious plan would have a tremendous impact on manufacturing, dealers, suppliers and employees in India. Ford may likely pour in more money, but so far, the company has not disclosed the amount.
Ford will concentrate on small cars in India which constitutes for 70 percent of passenger car market. Ford India is viewed as a key pillar of Ford Motors’ global manufacturing presence. Ford is also concentrating on Thailand market as it plans to invest 350 million dollars with Japanese partner Mazda to sell pick-up trucks in Thailand which reaffirms the strategic relationship between Ford and Mazda.
Ford’s renewed thrust into India is part of its strategy to deepen its presence in emerging markets such as China and Brazil to insulate itself from slower growth in the key markets of the U.S. and Europe.
Ford is among auto makers such as Volkswagen AG, Toyota Motor Corp. and Nissan Motor Co. that have either introduced small cars in India or plan to do so in the next few months.