Ford to launch a new car model in India every 12-15 months
By Andrew C., 30 Aug, 2010. 0 Comments
As part of Ford Motor Co.‚ aim to be a mainstream player in India, it plans to launch a new car model in India every 12-15 months over the next five years. Michael Boneham, Ford Motor India's president, told the Reuters India Investment Summit that the company will be relying on its new Figo small car, which is expected to drive a tripling of sales in 2010.
Ford plans to use India as a global manufacturing hub for compact cars. Apparently, Ford has seen the advantages of using India‚ low-cost facilities to grow in a segment that it expects will make up 60% of all global car sales in 10 years. The small-car segment makes up nearly 70 percent of the 1.5 million cars sold each year in India, an emergent market that has caught the eye of the auto sector as being one of the few areas that is booming. Boneham said that if the carmaker wants to succeed, it would have to be in this segment.
[via autonews]
Latest Auto Shows
